Wellington — Winston Peters has used the first sitting of Parliament in the 2026 election year to deliver a wide-ranging and combative address, sharply criticising the former Labour-Green Government’s economic record while positioning New Zealand First as a party of experience, delivery, and “real-world” governance.
Speaking after opposition leaders’ contributions, Peters said the moment called for vision, credibility and confidence, but instead delivered what he described as a “depressing” performance devoid of accountability for what he characterised as Labour’s economic mismanagement.
“There was no explanation for their appalling management of the economy,” Peters said, accusing the former government of leaving behind “massive debts” while presiding over what he described as one of the most rigid COVID-19 responses in the world — the effects of which, he said, institutions were still recovering from.
Economic Credentials and ‘Real-World Experience’
Peters challenged the opposition to demonstrate private-sector experience, arguing that those who had never managed risk or capital had no credibility asking voters to trust them with public finances.
“If that’s their record, how will they handle your money?” he said, directing his remarks both at MPs and the public watching the debate.
He said New Zealand First had played an “integral” role in stabilising inherited problems across government portfolios following the pandemic, arguing that the coalition had been forced to make hard decisions to reverse what he described as “rash” lockdown policies that failed to deliver long-term economic outcomes.
Infrastructure, Rail and Ferries
A significant portion of the address focused on infrastructure, transport, and regional development — areas Peters said exposed the contrast between “theory” and delivery.
He defended the Provincial Growth Fund, noting that critics who once labelled it wasteful were now reassessing its value following climate-related disasters and infrastructure shortfalls.
Peters also detailed changes to the Cook Strait ferry replacement project, claiming the coalition had inherited a plan that would have cost more than $4 billion due largely to oversized vessels and unbuilt port infrastructure.
He said the revised approach would cap ferry and port spending at $1.7 billion, delivering projected savings of at least $2.3 billion. Peters added that discussions with overseas shipbuilders suggested delivery could occur earlier than expected.
“This is not our first ship-building exercise,” he said, contrasting the coalition’s approach with what he described as amateur decision-making under the previous government.
Rail Revival and Transport Delivery
Peters highlighted rail as a key economic and productivity focus, pointing to improved performance at KiwiRail and the arrival of 66 new freight locomotives from Spain to replace ageing South Island stock.
He also confirmed the Auckland City Rail Link would open before the general election and announced the reopening of Auckland’s rail network following extensive upgrades.
“Real transport moves freight, creates jobs, and builds GDP,” he said, rejecting what he described as ideological transport experiments promoted by opposition parties.
Foreign Affairs and Global Stability
Turning to foreign policy, Peters warned New Zealand was operating in the most complex international environment in decades, urging caution, consistency, and realism.
He defended the government’s handling of international crises, stressing the importance of multilateralism and the rule of law — but arguing that law was meaningless without enforcement.
Peters also criticised what he described as hypocrisy in international commentary, particularly from political opponents and media figures, accusing them of selective outrage and inconsistency.
“Our job is to ensure every decision advances the collective interest of New Zealanders and our Pacific neighbourhood,” he said, noting New Zealand’s diplomatic engagement across nearly all Pacific Islands Forum nations.
Election Confidence
Concluding his address, Peters said the opposition’s performance had only strengthened his confidence heading into the 2026 election.
“There are times when you listen to the opposition and think you might be in trouble,” he said. “This was not one of those occasions.”
Peters argued that the governing parties represented the only credible option for economic management, infrastructure delivery, and international credibility, positioning the speech as an opening salvo in what is expected to be a long and hard-fought election year.