14 Nov 2011

Peters says public don't want outright National majority

9:06 pm on 14 November 2011

New Zealand First leader Winston Peters says his party's rise in opinion polls is a sign that the public do not want the National Party to have an outright majority in Parliament.

Support for New Zealand First, which is not currently represented in Parliament, has climbed in four polls over the past week.

Mr Peters told Radio New Zealand's Morning Report programme on Monday he believes his party will get past the 5% threshold needed to return to Parliament.

He says the public want to stop asset sales and the sale of the Crafar farms, which he believes could take place after the election.

Meanwhile, New Zealand First says it will push to reduce foreign ownership of the banking system if it is returned to Parliament.

Mr Peters says Australian-owned banks Westpac, ANZ, BNZ and ASB made profits of $2.7 billion in the past financial year in New Zealand.

He says wealth is being siphoned to Australia through foreign ownership of the banks, and no other developed country has the disproportionate foreign interest in banking that New Zealand has.