Winston Peters appears to be ruling out a future with Labour - but specifically with Chris Hipkins at the helm

The New Zealand First leader made his State of the Nation speech in Christchurch yesterday - blaming Labour for their inherited economy, while being disrupted half a dozen times by demonstrators he labelled anti-democratic.

Peters gave a blunt no when asked if he'd ever govern with Labour again, calling them unreformed losers.

This morning, Peters identified Hipkins as the reason, saying he'd proved himself incompetent.

He says he doesn't know why people keep asking him about his future with Labour.