New Zealand First will hold its annual convention in Christchurch this weekend with a focus on returning party members to Parliament, after being voted out at the 2008 election.

Leader Winston Peters has been campaigning around the country selling party policy with an aim to return to Parliament after the 2011 election, but is yet to announce which electorates may be targeted or whether there will be any new faces.

"This country has gone from greatness to mediocrity in one generation under the leadership of both National and Labour, and our policies and commitment comprise the only hope for New Zealand to become great again," he said.

Mr Peters said "slavish adherence to orthodox free market policies" was putting thousands of people out of work and sending exporters to the wall.

On TVNZ's Breakfast programme this morning he dismissed speculation about who might join the party, much of it centred on former Wanganui mayor Michael Laws.

"There is no truth in that - as he has said and as I have said."

Laws was a National Party MP from 1990-1996, and NZ First MP after the 1996 election.

He said he didn't know which electorate he would contest, but rubbished a media report from a couple of months ago suggested he was targeting Prime Minister John Key's Helensville seat.

There would be some "very exciting candidates" but it was up to the party to make any announcements, Mr Peters said.