A coalition deal appears imminent as the partners agree on policy programmes - though New Zealanders remain none the wiser as to what they are.
Incoming Prime Minister Christopher Luxon says National has reached agreement on policies with both ACT and New Zealand First.
Portfolios and positions are now the focus of negotiations.
Mr Luxon says it is a "major achievement" although he won't say what policies have survived, and died, in the talks.
Our political reporter Anneke Smith has more.