Winston Peters

New Zealand First is well placed to return to parliament next term and tomorrow night could end up holding the balance of power. So what might happen next?

What's going on in Winston Peters' head? That will be a question vexing several party leaders, thousands of voters and even some in his own party. Because whatever else the polls may or may not be telling us, the safest bet would be on New Zealand First making the five percent threshold and being needed to at least support the next government.

Or, rather, some speculative ruminations on what will happen if Winston Peters holds the balance of power and won't commit to supporting either bloc in the House. 

Imagine, if you will, a scenario on September 21 where the provisional election results deliver a Parliament where National cannot form a majority even with ACT/United Future/Maori Party support, Labour cannot form a majority with Green/Mana-Internet Party support and Colin Craig's Conservatives fall short of the threshold.

Want to know all the bottom lines Winston Peters has laid down this year?

Reports today talk about Winston Peters laying down "the ground rules" for coalition negotiations and setting out "priority areas he wants addressed". And it's interesting that the indications he's making now aren't exactly in line with what he's said previously.

If National maintain current polling and both the Conservatives and New Zealand First get to five percent, Key will be in the catbird seat. But which might he choose and why?

With two weeks to go until election day, it looks highly likely that John Key will be Prime Minister until 2017. The idea that Labour on around 25% could lead a government is improbable. And it's now hard to imagine anything that Kim Dotcom could disclose that will change the voters' minds.

The Conservatives have now found their turangawaewae - they're offering the same but different whereas Peters has to figure out how to sell his 'wait and see' approach to coalition

The shadow boxing between Winston Peters and Colin Craig is will be one of the most interesting bouts on display in the final weeks of the campaign. Just how these two spar - and triangulate with John Key - could be crucial to the shape of the next government.