The coalition is promising to reverse Labour's blanket speed limit reductions by July 2025.
It is asking for public feedback on plans to scrap all speed limit reductions - introduced since the start of 2020 - on local streets, arterial roads and rural state highways.
The draft speed limit rule will impose a speed limit of 110km/h on new and existing roads of national significance if they are built to a high standard.
It will also allow for limits of up to 120km/h on roads of national significance that are built to accommodate that speed.
Lower speed limits could stay on rural state highways if the Transport Agency could demonstrate public support for them, Transport Minister Simeon Brown said.
"The previous government's untargeted approach slowed Kiwis and the economy down, rather than targeting high crash areas of the network," Brown said.
The changes will also require variable speed limits outside schools during pick-up and drop-off times.
"Local streets outside a school will be required to have a 30km/h variable speed limit during school travel times.
"Rural roads that are outside schools will be required to have variable speed limits of 60km/h or less," Brown said.
The speed limit changes are out for public consultation.
"Blanket restrictions forced on communities from Wellington didn't just make it harder for people to get where they wanted quickly and safely, they drained the joy from life as people were forced to follow rules they knew made no sense," Regulation Minister David Seymour said.
"Worse still, people ignore rules that don't make sense and once the habit forms, they ignore rules that do make sense. Sensible lawmaking is important for respecting the rule of law."
The deadline for all roads to meet the new variable speed limits outside schools is 31 December 2027.