9 Nov 2008

Winston Peters concedes defeat

1:06 am on 9 November 2008

A defeated New Zealand First Leader Winston Peters has congratulated his opponent in the Tauranga electorate, Simon Bridges.

Mr Bridges held the seat for National by more than 10,000 votes.

In his concession speech, Mr Peters thanked supporters, and told them that it is not the end.

He said it was always going to be a difficult election to win.

At 4.2% New Zealand First also fell short of the 5% party vote threshold needed to stay in Parliament.

Mr Peters' supporters were openly crying as he spoke in Tauranga, and there was some animosity towards the media, which Mr Peters lambasted during his speech.

It is a dramatic reversal of fortune for New Zealand First, which had seven MPs in the most recent Parliament.