Wellington  - John Key, leader of New Zealand's conservative National Party, confirmed Sunday that he had signed agreements with three other parties to establish a minority centre-right government.

The Nationals won the most seats in parliament at a general election on November 8 to oust the Labour-led coalition that had governed for nine years, but failed to get an overall majority.

As a result of the agreements finalized Sunday, the Nationals are now guaranteed 70 of the 122 seats in the House of Representatives.

The free market ACT and the Maori parties - who each won five seats - and the sole United Future member Peter Dunne, have agreed to support the Nationals on all critical votes in exchange for ministerial posts outside the cabinet.

At a joint news conference, Key and ACT leader Rodney Hide declared a long-term aim of lifting New Zealand's per capita income to the level of Australia by 2025, which they said would require a sustained lift in productivity growth to at least 3 per cent a year.

They also agreed to a "medium-term goal" of cutting the top income tax rate from 39 per cent to 30 per cent, new tough policies on violent criminals and to review the former Labour government's trend- setting climate change initiatives.

Hide becomes minister of local government and the new post of minister for regulatory reform. His deputy, Heather Roy, becomes minister of consumer affairs.

Key scheduled two further news conferences later in the day with leaders of the Maori Party and Dunne when their agreements and ministerial positions will be released. (dpa)