winston-peters

New Zealand First Proposes Restricting Voting Rights to Citizens Only

New Zealand First leader Winston Peters has announced a policy to restrict voting rights exclusively to New Zealand citizens. The proposal aims to remove the current eligibility of legal residents—including permanent residents and those on work or study visas—from the electoral process by prioritizing those who have sworn formal allegiance to the country.

How does current voting eligibility work in New Zealand?

Under existing rules, legal residents are eligible to vote if they have lived in New Zealand continuously for a year or more. This eligibility applies to individuals whose visas do not require them to leave the country within a specific timeframe. According to reporting from rnz.co.nz, this current system includes permanent residents as well as people holding work or study visas.

Why is Winston Peters proposing this change?

Announcing the policy on Sunday, Peters argued that voting “should be a privilege of those who have sworn allegiance to New Zealand, and who have made the commitment to make New Zealand their home and their future.” He suggested that while the country is “happy to let you live here permanently,” those who have not made a formal commitment or sworn allegiance should not “get a say in how this country is run or governed.”

The party leader intends to “restore the basic democratic principle” that the authority to decide the nation’s future belongs to its citizens. Peters drew a distinction between the rights provided by permanent residency and those provided by citizenship. He stated that while permanent residence allows individuals to live, work, study, and build a life in New Zealand, citizenship serves as the “formal bond of allegiance, belonging, responsibility, and democratic authority.” He concluded that this distinction “should matter again.”

What could happen following this announcement?

If New Zealand First pursues this policy, it could lead to significant changes in the country’s electoral demographics. A possible next step may involve the party introducing legislative proposals to amend current voting laws. Such a move could potentially remove a segment of the existing electorate, specifically those residing on work, study, or permanent resident visas, from participating in national elections.

New Zealand First leader Winston Peters has unveiled a policy proposal to buy back the Bank of New Zealand (BNZ), arguing that the move would return control of the nation’s banking system and provide long-term economic benefits.

The plan involves acquiring BNZ and merging it with Kiwibank to establish a new state-owned entity called the National Bank of New Zealand. According to Peters, this new bank would be commercially operated and designed to compete directly with major banks owned by Australian interests.

Investment in National Wealth

Peters described the proposal as an “investment” rather than a cost, claiming that foreign ownership of major banks drains value from the local economy. He criticized previous governments for selling national assets too cheaply during the 1980s and early 1990s, specifically noting that NAB purchased BNZ in late 1992 for NZ$1.48 billion.

Commenting on the 1992 sale, Peters stated, “When it was sold, six out of 10 banking customers were with BNZ. It was flogged off by a bunch of neoliberal nitwits and twits.” He questioned why the country continues to pay an Australian bank to run parts of the economy when New Zealand “should and used to do it ourselves.”

Funding and Financial Debate

The proposal has sparked a significant debate over feasibility and cost:

• Cost Estimates: Peters dismissed estimates that the acquisition would cost between $10 billion and $20 billion as “wildly inflated,” suggesting instead that the bank could potentially be acquired for “something above $7.5 billion.”
• Funding Strategy: When asked about funding, Peters told Breakfast that New Zealand needs to “recalibrate” its approach to debt, stating, “We pay far too much costly debt everywhere… This is a world awash with money.” He added that the stability of New Zealand’s democracy makes the country more likely to attract investment.
• Government Criticism: Finance Minister Nicola Willis described the plan as “extremely reckless,” arguing it would be unaffordable without additional borrowing or significant tax increases.

In response to the criticism, Peters suggested that critics within the National party failed to properly understand the policy, advising them to “read the speech first, or better still get someone to explain it to you before you make comments.”

KiwiSaver for Newborns

Alongside the banking proposal, Peters announced a policy to automatically enrol all newborn citizens into KiwiSaver. The plan includes a $1,000 government contribution to each newborn’s account, which Peters estimates would cost approximately $50–60 million per year.

Peters characterized this as a modest investment with a long-term payoff, asserting, “This is not a debt matter, it’s an investment… People start off from day one as investors.” He cited Singapore as an example of how national savings systems can support economic growth.

Potential Paths to Acquisition

Claire Matthews, a professor at Massey Business School, identified two potential ways the government could acquire BNZ: