A Chinese name joke, a dig at this country's "Mr Spray and Walk Away" Prime Minister, and a promise of $1000 and a KiwiSaver account for every newborn baby - all featured in the New Zealand First campaign launch yesterday.

Before 300 of the party faithful in Auckland, party leader Winston Peters peppered the crowd with humour as well as plenty of bluster about foreign ownership, the impact of immigration, and cracking down on the 68,000 migrants who receive superannuation through parent reunification.

"They receive superannuation, even if they haven't worked for the past 10 years. John Key says it doesn't matter," Mr Peters said.

"It does matter," a voice cried out.


"No, but John said it doesn't," retorted Mr Peters. "But then again, that's why they call him Mr Spray and Walk Away."

At the centre of his announcement was a proposal for a KiwiSaver account, with a $1000 Government kick-start, for every baby in New Zealand, and to be able to use it for tertiary education as well as a first home. "It's so they can get out of university without a large albatross around their neck.

"Parents and family can contribute knowing that it will go towards tertiary education or a home - a basic need," Mr Peters said.

He repeated his intention to crack down on foreign ownership, saying National's claim that Labour had done it as well was not vindication.

"Just because your predecessor did it too does not make your actions sensible. As they say in Beijing, two Wongs don't make a right."

Afterwards Mr Peters said it was not a racist joke. "It's called humour. I know that in Beijing they think it's funny, and so do I."

He outlined other party policies, including a public paedophile register, a register of foreign ownership, and a promise sex offenders not rehabilitated would not be released.