Winston Peters to become Deputy Prime Minister

New Zealand First leader Winston Peters will become Deputy Prime Minister once the new Government is sworn in on Thursday.

The Labour-NZ First coalition agreement was signed at Parliament this afternoon and has been released publicly.

Mr Peters, who was first elected to Government in 1978, has previously served as Deputy Prime Minister from 1996 - 1998.

New Zealand First will have four Cabinet positions in the new Government and one under-secretary role.

NZ First's portfolios will include Foreign Affairs, Infrastructure, Regional Economic Development, Internal Affairs, Seniors, Defence, Veterans’ Affairs, Children, Forestry, State Owned Enterprises, Racing, Associate Finance, Associate Education and an Under-Secretary for Foreign Affairs and Regional Economic Development.

Prime Minister elect Jacinda Ardern will announce the full line-up of Ministers and their portfolios on Wednesday.

Labour will sign a separate confidence and supply agreement with the Green party later this afternoon.