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.