Conservative Party leader Colin Craig says there is not a mandate for the Government to sell further state-owned assets.

Mr Craig told TV3's The Nation programme this morning that he would like to see Prime Minister John Key wait until the results of a referendum asking Kiwis if they support the Government selling up to 49 per cent of Meridian Energy, Mighty River Power, Genesis Power, Solid Energy and Air New Zealand.

"We think there isn't a mandate, less than 50 per cent of the vote last time was for parties that promote asset sales," he said.

"I'd like to see [Mr Key] get the support of the country before he proceeded with selling off those assets."


However, he said his stance was not necessarily a deal-breaker in any coalition his party may form with National after next year's election.

Postal voting for the non-binding referendum opens on Friday November 22 and closes on December 13.

Mr Craig also said that no deal had yet been reached between National and the Conservatives regarding a coalition.