NZ First has scored big gains in its coalition agreement with Labour including a $1 billion-a-year Regional Development Fund, reform of the Reserve Bank Act and a minimum wage of $20 an hour by 2020.

Labour's plan to introduce a water tax has been scrapped, but there will be a royalty charged on bottled water exports.

There will be a new generation SuperGold Card with more entitlements, as promised by NZ First leader Winston Peters during the election campaign.

Ministerial positions for four NZ First cabinet ministers include deputy prime minister and foreign minister - for Mr Peters - as well as defence, regional economic development and forestry.

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Other positions that will be spread among the four include being Minister for Children - which Labour leader Jacinda Ardern had been thought to want herself - infrastructure, internal affairs, state-owned enterprises, seniors and racing.

The terms of the agreement were released as Ms Ardern and Mr Peters signed the agreement in parliament on Tuesday.

Parliament will pass a "Waka Jumping" Bill to stop MPs defecting to another party as happened after the 1996 coalition government collapsed.

There is a commitment in the agreement to re-enter the Pike River mine, a promise of "significant" investment in regional rail and a feasibility study on options for moving Ports of Auckland "including giving Northport serious consideration".

However, Labour's immigration policy remains intact and NZ First hasn't got the big cuts it wanted.

There is an undertaking to ensure work visas "reflect genuine skills shortages". The coalition government will "strive towards adding 1800 new police over three years" - another NZ First policy.

The Kermadec Ocean Sanctuary hasn't been scrapped and there is a commitment to work with Maori and other stakeholders "to resolve outstanding issues in a way that is satisfactory to both Labour and New Zealand First".

There's also an agreement to plant 100 million trees a year in a Billion Trees Planting Programme - which is Green Party policy. The Greens have a separate support agreement with Labour, which sets out policy deals worked out during the negotiations. They have made gains as well, but they're not as comprehensive as NZ First's.

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There's a commitment to increase funding for conservation, introduce a Zero Carbon Act and set up a new cross-agency Climate Change Board.

Work will begin on light rail from Auckland City to the Airport and there will be more money for walking, cycling and public transport.

There's a commitment to ensuring every child with special needs and learning difficulties can participate fully in school life.

Ministerial portfolios for the Greens are climate change - which Mr Shaw will take - conservation, women, land information, associate environment, statistics, associate transport and associate health.

One of its MPs, expected to be Jan Logie, will be parliamentary under-secretary to the Minister of Justice with responsibility for domestic and sexual violence.

- NZN