NZ First negotiations: What's on the table?

Bill English's team have jumped straight into negotiations with Winston Peters, while Jacinda Ardern will take a day to form her crack team of negotiators. 

Mr English said on Monday morning "My staff have been in touch with his staff and I'd expect to have a discussion with him myself over the next few days."

But Ms Ardern is already sending a public message to the man who holds the balance of power, saying that NZ First were clearly "campaigning hard for change" and the majority of Kiwis voted against the status quo.

New Zealand First's policies seem to align more with Labour than National in key areas such as free tertiary education, upping police numbers and banning foreign house buyers. 

There are certain positions that Winston Peters will not budge on. His referendum on the Māori seats would go nowhere under Labour, Jacinda Ardern ruled that out completely, while National still has a little known policy to abolish the seats.

Mr Peters has promised farmers they won't face a water tax if he is in power - that lines up with National not Labour, however Ms Ardern wouldn't take it off the negotiating table.

A manned re-entry to Pike River could happen under Labour if their Pike River recovery agency signs it off. National has said they won't be going back in but Mr Peters could change their mind. 

His flagship policy of immigration cuts aligns more with the red team than the blue team as does his commitment to his core voters to keep the retirement age at 65 - but National could move on immigration and would happily keep the age at 65 to get a deal.

As for relocating the Auckland Port to Northland, Jacinda Ardern says yes and National's on the fence.

Realistically everything bar the Māori seats is on the negotiating table, and the parties will do all they can to cut a deal. But both recognise Winston Peters would like a bit of time on his boat before he makes a call.