NZ First MPs refused to comment on the NZ First Foundation on the way into Tuesday morning's caucus meeting.

National leader Simon Bridges won't rule out working with Winston Peters and NZ First in the future and isn't yet calling for him to stand down over the NZ First Foundation saga.

He is now calling on the Prime Minister Jacinda Ardern to confirm that she trusts Peters, in the wake of yesterday's news that the the NZ First Foundation donations have been referred to the Serious Fraud Office (SFO) by police.

Bridges also called on the SFO to make a decision on whether to investigate Peters before the election.

But Bridges stopped short of saying Ardern should stand Peters down during any investigation.

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"Voters have a right to know the decisions by the SFO before the election - that's incredibly important, it's our election, it's our democracy," Bridges said.

Ardern would not say she trusted Peters at her Monday post-cabinet press conference, but she did confirm her trust in him on Tuesday morning.

She also declined to discuss whether Peters should stand down from his ministerial portfolios during the process, as he eventually did during another donations investigation in 2008.

Ardern repeated on Tuesday that she believed once the two donation matters the SFO are involved in right now were complete a new look at donation laws was needed to add "clarity".

"I do think that if we want to uphold our status as number one in the world for transparency and anti-corruption, if we want to maintain the New Zealand public's trust in our democratic process we do need to look at the rules and regimes."

NZ First ministers were reluctant to speak to media on their way into caucus on Tuesday, with defence minister Ron Mark saying he had "no knowledge" when asked about the foundation.

Bridges ruled-out NZ First at his caucus retreat in early February, saying he couldn't trust the party.

"I don't believe we can work with NZ First and have a constructive trusting relationship," he said then.

Bridges pointed to the decision of NZ First leader Winston Peters to sue several National Party ministers during coalition negotiations as a factor in the bad blood between the parties.

"I don't trust NZ First and I don't believe New Zealanders can either," he said.

But Bridges said that he would not rule out working with NZ First under any Government that he led, opening the door for Peters and his party to join future Bridges-led Governments.

"No, I don't think that's my right or privilege if you like, but I've made clear that is the case for this election - we're ruling them out," he said.

Pressed on the question, Bridges would only commit to ruling NZ First out of any talks after the 2020 election, "no ifs, no buts".

RYAN ANDERSON/STUFF Simon Bridges has ruled-out working with Winston Peters after the 2020 election, but not beyond that.

Decisions like the one Bridges has already made would have to go through the National Party board and caucus, however Bridges does have the right to make a personal call never to work with Peters and his party NZ First.

Ardern, for example, has pledged never to implement a Capital Gains Tax under a Government she leads, effectively vetoing it for the foreseeable future.

John Key ruled Peters and NZ First out of coalition talks ahead of the 2008 and 2011 election, but National shied away from making similar pledges in 2014 and 2017.

Donations to the New Zealand First Foundation ended up at the SFO on Monday, after the Electoral Commission said they should have been treated as party donations and referred the matter to the police.

NZ First itself is now reviewing the way it takes in donations following the bombshell finding by the Electoral Commission - although party leader Winston Peters is adamant that his party follows the same systems other parties use.

The police referred the matter on to the Serious Fraud Office (SFO) almost immediately after having the matter referred to them by the Electoral Commission.

In a statement, the Commission said in its view "the donations were not properly transmitted to the Party and not disclosed as required by the Electoral Act 1993".

Details of the New Zealand First Foundation were uncovered in a Stuff investigation in November 2019, showing that it appeared to act as a slush fund for the party.

Donations to political parties have attracted a lot of attention this term.



The Serious Fraud Office has laid four criminal charges concerning donations to the National Party following a complaint from independent MP Jami-Lee Ross.