New Zealand First leader Winston Peters is confirmed to be the next Deputy Prime Minister - appointed to this role for the first half of the three-year parliamentary term.

ACT leader David Seymour will be Deputy Prime Minister for the second half of the term.

Mr Peters will be Minister of Foreign Affairs and Mr Seymour Minister for Regulation.

The next Cabinet will have 20 members; 14 National Ministers, three ACT Ministers and three New Zealand First Ministers.

Nicola Willis will be Minister of Finance, Brooke van Velden will be Minister for Workplace Relations and Safety, and Shane Jones will be Minister for Regional Development.

In terms of ministers outside cabinet, there will be five from National, two from ACT and one from New Zealand First.

ACT and New Zealand First will each have one Parliamentary Under-Secretary.

Forty one days after the election, the makeup of the next government is being unveiled.

The negotiations were the second-longest in New Zealand's MMP history, behind only 1996, when New Zealand First was in a 'kingmaker' position.

Speaking at Parliament after the announcement, National Party leader and new Prime Minister Christoper Luxon said he wanted to speak directly to the New Zealand people.

"Thank you for your patience and your understanding in the wait for this government to be formed over the last 20 days.

"I think it is a real credit to New Zealanders that we now handle the MMP process with such calmness and maturity. I also want to thank Chris Hipkins and the outgoing caretaker government for all of their assistance during this transition, and also on behalf of the country, I want to thank the public service for so calmy keeping on during this period.

"The new government is looking forward to working with you and to delivering the government's programme and to getting things done for Kiwis."

He said ACT and New Zealand First have agreed to support the major elements of National's "extensive policy programme".

"Both coalition documents provide for the two parties to support the commitments we made in our 100-day plan and our 100-point economic plan and our tax and our fiscal plans, with some adjustments to some of those policies.

"The National and ACT coalition agreement provides that the government will progress a range of ACT initiatives and that these will in fact be supported by New Zealand First. Equally, the National and New Zealand First agreement outlines a range of New Zealand First priorities which will be supported by ACT. That result is a true three-party coalition government with a strong Parliamentary majority and a comprehensive police programme for the next three years that will get New Zealand back on track.

"We are now ready to go to work for New Zealand and for all New Zealanders. Our government will rebuild the economy to ease the cost of living and to deliver tax relief and to increase the prosperity of all New Zealanders. Our government will restore law and order and personal responsibility so that Kiwis are safer in their own communities.

"Our government will deliver better public services so they are more efficient, more effective and more responsive to the Kiwis who need them. Our government will strengthen democracy."