Watch: The moment PM-elect Jacinda Ardern and Winston Peters put pen to paper on coalition deal

Winston Peters and Jacinda Ardern have formally signed a coalition agreement to form a new government in Wellington more than a month after the September 23 election.

Ms Ardern outlined this afternoon some of the coalition's values, saying "the majority of New Zealanders voted for change in this election".

"We are committed to a fiscally-responsible government that grows the economy but makes sure everyone shares in its prosperity," Ms Ardern said.

She said through negotiations with NZ First, the government would be "investing in health, investing in education, and significant increases in the minimum wage".

Ms Ardern said $8b in additional health funding has been put aside, as well as additional investment in policing total $100 million for 1800 police officers.

"We want to go through the process of precisely costing every policy," she said.

PM-elect Jacinda Ardern and Winston Peters revealed details of their policy deals – how will it affect you? Source: 1 NEWS

She also said "there has been a period of neglect in the past nine years for our regions" - with Northland being given as an example by Mr Peters, which would be addressed.

Mr Peters said he was "happy" with the balance between policies which had been achieved, and Ms Ardern agreed, saying "I’m absolutely comfortable with where we landed".

Both said foreign speculation would be targeted by the new government, and regional investment in rail and forestry.

The Labour and NZ First leaders are set to lead the country for the next three years. Source: 1 NEWS