#election2026: Peters outlines populist agenda in State of the Nation address

New Zealand First leader Winston Peters has delivered his 2026 State of the Nation speech, positioning his party as a voice for what he describes as ordinary New Zealanders navigating economic uncertainty and political frustration.

Speaking to a crowd of more than 1,000 people in Tauranga, Peters framed the country as facing a period of instability, with rising costs of living and an economy that he argued is underperforming. The speech, branded around the theme of “power to the people,” focused heavily on restoring economic control and rebalancing what he sees as systemic inequities.

A central policy announcement was a proposed overhaul of the electricity sector. Peters signalled that New Zealand First would campaign on breaking up the country’s major energy “gentailers” – companies that both generate and retail electricity – arguing that the current structure limits competition and allows pricing power to remain concentrated among a small number of players.

The speech also touched on broader economic nationalism, with Peters raising concerns about major New Zealand assets and companies. He criticised moves by large corporates to sell off well-known domestic brands and pushed back against any suggestion of reducing government ownership in key infrastructure such as the national airline, reinforcing a protectionist stance around strategic assets.

In a wide-ranging address, Peters revisited the Government’s handling of the Covid-19 pandemic, pointing to findings from the inquiry process and arguing that past decisions had long-term fiscal and social consequences. He used this to reinforce a broader narrative around accountability and government transparency.

The speech was also political in tone, with criticism directed at multiple parties across the spectrum, including Labour, the Greens and Te Pāti Māori, as Peters sought to differentiate New Zealand First’s positioning ahead of the 2026 election.

Alongside policy, the event signalled campaign intent, including the introduction of new candidate Alfred Ngaro, as the party looks to build momentum in what is shaping as a closely contested election year.

The address comes as New Zealand First continues to track upward in polling, aiming to expand its influence and reassert itself as a pivotal force in coalition politics.

Peters’ message was clear – a call for stronger state intervention in key sectors, greater economic sovereignty, and a shift in political power back toward what he describes as everyday New Zealanders.