WELLINGTON - NEW Zealand prime minister-elect John Key said on Tuesday he was aiming to announce a new cabinet by Sunday after holding talks with potential minor party allies.

Support from two small conservative parties, ACT and United Future, was formalised on Monday, ensuring his centre-right National Party will have a majority in parliament following its weekend election win.

On Tuesday, he held talks with the Maori party, which represents the interests of the 15 per cent of the population made up of indigenous Maori and holds five seats in the 122-seat parliament.

Mr Key also held further talks with ACT and United Future to finalise what roles they would play in the government Key wants to announce 'at the latter end of the week'.

An agreement would allow him to start work on dealing with the impact of the global financial crisis, with briefings from government and central bank officials on the economic outlook due on Wednesday.

Mr Key also hopes to leave for Peru next week to attend an Asia-Pacific Economic Cooperation (Apec) summit, which is also expected to focus on the fallout from the financial crisis.

The 47-year-old former investment banker indicated he was prepared to offer the Maori Party similar deals to ACT and United Future.

They could be allocated ministerial portfolios outside the cabinet in return for not opposing the government in crucial confidence and budget votes in parliament.

'Those options are potentially on the table... there's a consistency of view we are taking across all three parties, but I don't want to detail those at the moment,' Mr Key told reporters.

National does not need the support of the Maori Party to ensure a parliamentary majority but Key has said he wants to form an 'inclusive' government to replace Ms Helen Clark's outgoing Labour Party.

Bringing in the Maori Party would give the National-led government a stronger base going into the next election due in 2011 and allow Key the option of seeking support from the Maori Party for measures opposed by the right-wing ACT.

Maori Party co-leader Tariana Turia told reporters after meeting Mr Key that the party would consult its members before making a final decision.

'It's very early days. It would probably be Monday or Tuesday of next week before we would have any very clear decision on what role if any we would take,' she said.

Meanwhile, the defeated Labour Party unanimously elected former trade and defence minister Phil Goff as leader to replace Ms Clark, who told shocked supporters during her concession speech on Saturday that she was stepping down after 15 years.

Mr Goff promised to lead a strong, united and disciplined opposition against Key's government.

'We believe we can make this a one-term National government,' he said after being elected by fellow Labour legislators.

Mr Key described the choice of Mr Goff, 55, as uninspiring, suggesting Labour needed generational change.

'I would have thought they've got some younger people they might want to bring forward, but in the end its for them to choose their leadership team,' he said.

Ms Clark promised her full support for the new leadership, which includes former justice and police minister Annette King as deputy after Michael Cullen joined his leader in stepping down. -- AFP