It's always an easy one for parties to trot out. I've seen it time and time again. Jim Bolger did it in 1990 with the slogan "A Decent Society". At the time it called for a referendum on capital punishment, which was quietly shelved. ACT and National have both gone down this path in the past, but I'd take a more nuanced approach.
For me, a good law and order policy comprises several dimensions. It isn't merely "hang the bastards", it is a balance - as follows:
1. Recividist violent offenders should be kept from committing further crimes: It's simple, you have one chance if you are a violent (including sexual) offender, to do time, to rehabilitate and live a life of peace, but if you repeat you are deemed a threat to others, and detention is preventive. It is about protection of future victims, punishment coming second. Preventive sentences could be for a decade or for life, depending on the threat to the public.
2. Rehabilitation for the first time offender: At the non-violent end of the spectrum, people make foolish, damaging mistakes. However, it is not a reason to write them off. The criminal justice system must exist to deter and punish, but for those entering it the first time the best efforts need to be made to make it the last time. That means not throwing young foolish men into dank prisons where they learn to be "staunch" and can learn how to be a tougher, harder criminal. It's more clever than that. It deals with issues of literacy, teach useful skills, anger management and therapy if needed, in short it is a concerted effort to turn people around.
3. Protect the presumption of innocence: Our criminal justice system is built upon a simple presumption. You're innocent till proven guilty. That should never be watered down. It must remain central to the criminal justice system.