Television footage has emerged of the then leader of the opposition, John Key, arguing in favour of keeping state assets.
TV3 has broadcast part of a presentation Mr Key made to a Public Service Association conference, before the 2008 election.
It shows Mr Key saying National would not sell assets in its first term, and that it might never sell them.
He said the Crown's revenue stream from companies like Mighty River Power and Meridian - which are up for partial sale - was large.
Mr Key said the country did not have a debt problem, there was no motivation to sell assets, and it would not make the economic boat go faster.
Radio New Zealand's political staff say while the debt situation has changed since 2008 and National campaigned on partial asset sales last year, Mr Key's remarks on how valuable the assets are will be seized upon by the Opposition in their fight against partial privatisation.