'We have standards' - Peters on Key

New Zealand First leader Winston Peters has lashed out at Prime Minister John Key for ruling out working with him following this year's election.

In a speech in Waitakere City today, Mr Peters said New Zealand First was not saddened when Mr Key refused to have a "political marriage" with the party.

"We cannot say members of New Zealand First are really disappointed not to be asked to hop into bed in some sort of bigamous marriage with National, ACT, the Maori and United parties," he said.

"We do have our standards.

"And when they wake up and start attacking each other, you become the collateral damage. Talk about a fate worse than death," he said.

Mr Key earlier this month ruled out working with Mr Peters and said if New Zealand First held the balance of power after the November 26 election, there would be a Labour government.

"I don't see a place for a Winston Peters-led New Zealand First in a government that I lead," Mr Key said. "Historically, he has always been sacked by prime ministers. It's a very different style to mine and it's rearward-looking.

"I'm about tomorrow, I'm not about yesterday."

Out of the country
Mr Peters said he had received two phone calls in the past two years offering him diplomatic postings to get him out of the country.

"They were quite happy to have Winston Peters representing New Zealand's interests abroad. Strange that."

The caller told him the offer was on behalf of current Foreign Affairs Minister Murray McCully, he said. Such an offer would not be made without the prime minister knowing, Mr Peters claimed.

New Zealand First was against partially selling state-owned assets, and Mr Key "was embarking on a giant leap backwards by using the failed policies of the 80s and 90s".

Mr Key's proposal would turn New Zealand into pawns in the "profit-driven chess games played in foreign boardrooms" NZ First would stop public asset sales, he said.

The signing of an investment protocol last week, by Mr Key and his Australian counterpart, Julia Gillard, also meant Australian companies would be able to buy "what they don't already own and what the Chinese haven't snapped up".

"We've been told over the years that our cross-Tasman economic ties are of great benefit to us.

"However, in reality, the last 20 years have seen us swamped by Australian companies led by their banks."

Mr Peters said the party would raise the minimum wage, reverse health cuts, address the issue of skilled workers moving to Australia, and have the ownership of the foreshore and seabed vested back in the Crown.