The definitions of liberal and conservative have changed. Since the meanings are skewed, the policies attributed to these factions must be re-examined.

Today's "liberals" are in favor of bigger government, and this used to be the opposite. On the other hand, the modern "conservatives" support less regulation and less government - a quality of the "old" liberal ideal in the now-distant past.

I know nothing about New Zealand's politics, but their Liberal Party seems to reflect the "old" values of their name.
http://www.act.org.nz/
http://www.act.org.nz/policy_ataglance.aspx
Our Policies:
Health
Alleviate the crisis in the public sector, and reduce waiting lists, through making better use of the private sector. A ranking of 41st in the world is not acceptable. Read on...

Tax
Simple, low tax rates create greater prosperity and faster growth, while leaving more money in families' pockets. ACT is the only party committed to tax cuts now. Read on...

Education
ACT would scrap the NCEA, give parents more choice in their child's education and let teachers be paid what they're worth. Read on...

Crime
ACT would introduce Zero Tolerance for violent criminals and put more police on the streets, making New Zealand one of the safest countries in the world. Read on...

Welfare
A quarter of a million Kiwi kids are being raised in a benefit-led household. True compassion demands looking after the truly needy by getting the able-bodied back to work