WELLINGTON - NEW Zealand's prime minister-elect John Key set about building a government around his centre-right National Party on Sunday with the fallout from the global economic crisis at the top of his action list.

National is to govern with the support of the small conservative parties ACT and United Future after a big swing on Saturday against the ruling Labour Party brought the curtain down on Prime Minister Helen Clark's nine years in power.

Mr Key, a relatively inexperienced politician who achieved the transition from merchant banker to prime minister in six years, said he was confident he and deputy Bill English could tackle the fallout of the economic crisis.

'I'm very confident we can work our way through it. I'm very confident about our policies, our positions,' he said after his victory speech to jubilant supporters in Auckland on Saturday.

'It will be pretty tough in the next year.'

Mr Key said he wanted to fast-track being sworn in, forming a government within eight days so he could attend the Asia Pacific Economic Cooperation (Apec) summit in Peru focusing on the financial turbulence.

National won 45.5 per cent of the vote, or 59 seats in the 122-seat Parliament on Saturday as New Zealand's three million voters showed a clear desire for change.

Key will have a clear majority with the support of allies the right-wing ACT Party with five seats and one more from United Future's Peter Dunne.

The seat distribution is unlikely to change when the special votes are finalised on November 22, but Key will require the cooperation of Labour and the approval of the governor general if he is to be sworn in before then.

Mr Key held talks with English, his deputy and finance minister, and National's third-ranked MP Gerry Brownlee on Sunday to discuss the likely make-up of his government.

He said he would meet ACT leader Rodney Hide and Dunne on Monday but it was not immediately clear whether the three parties would form a formal coalition or a looser alliance.

The 47-year-old with a fortune estimated at 50 million dollars (S$43.4 million) said he also wanted to form a relationship with the Maori Party, which represents the interests of New Zealand's indigenous population.

Mr Key said he wanted to form a government 'that serves the interests of all New Zealanders' in the face of tough economic times ahead.

He does not need the support of the Maori Party, which secured five seats in the election, but said it was important for National to form a long-term relationship with them.

Mr Roger Douglas, the architect of the most radical upheaval in New Zealand's economic history returns to parliament after an 18-year break as an ACT MP.

Although Mr Key has already ruled out having Mr Douglas in his cabinet, the controversial 71-year economic reformer maintained that was still open for negotiation and there were areas 'where I could have an influence'.

'I won't sit there quietly. I'll either be inside the tent and making a contribution and putting ideas on the table there, or if you're outside you do it from the outside.'

Before the election, Mr Key announced a raft of reforms he would complete in his first 100 days in office.

These included tax cuts to be approved by Christmas, a relief package for people made redundant during the harsh economic times, a tough stance on law and order and a thorough review of spending by government departments.

The Labour Party meanwhile was resigned to rebuilding itself with outgoing Trade Minister Phil Goff seen as a leading candidate to succeed Clark at the helm.

Ms Clark, acknowledged on both sides of the political divide as a strong leader, announced her resignation as party leader immediately after the election loss.

Her deputy and finance minister Michael Cullen said on Sunday he would also be stepping down. -- AFP