Journalists were taken by surprise when National's incoming Finance Minister, Nicola Willis admitted she was not in the running for the deputy prime minister role, according to Newstalk ZB political reporter, Jason Walls.

Incoming Prime Minister Christopher Luxon told the media yesterday he and other party leaders are in the “final stages of our coalition conversations” and the role of deputy prime minister was one of the few remaining points of contention.

The contest has since been revealed to be between NZ First leader Winston Peters and Act leader David Seymour – Willis told the Herald that she was “not in the race”.

"Despite the nonchalant way she said 'to be honest I'm not in the running', the reporters were caught off guard a little bit," Walls told Heather Du Plessis-Allan Drive.

Walls said nobody had assumed she wouldn't be taking the role of deputy with reporters asking Luxon numerous times whether Willis would be in the running for the position.

Luxon told the media after Willis ruled herself out of the job: “It had never been a consideration for Nicola. [She] and I had spoken well before the negotiation and of the view that, frankly, given our past convention, that deputy prime ministership is a role that should be held by coalition leaders.”

Walls found this comment difficult to get his head around.

"So, [Willis taking the role] was never even on the table this whole time it was talked about, and they're acting to the journalists like 'we've never said this' but we've asked time and time again," the political editor said.

"It looks like David Seymour or Peters duking it out and this is the issue holding [the talks] up."

On the Herald's recent story claiming Peters was the front-runner for the role, Walls said he backed the journalist who had made the claims.

He said Peters carried more experience and Seymour had said in the past he was more concerned about policies than positions.

Du Plessis-Allan asked if Seymour's recent public push for the job was a ploy to allow him to leverage for another position within the cabinet, which Walls confirmed could be a possibility.

"He said it makes more sense for an MP with a farming background to be, for example, Minister of Agriculture like [Act list MP] Andrew Hoggard - a farmers’ president, he'd fit well in that position," said Walls.

Luxon says he hopes a coalition deal can be struck today after working late into the night to iron out the remaining issues.

”At the moment, we’ve got a little bit of work to do this morning and then hopefully we’ll be in a good place. I’m talking to the leaders, about another couple of conversations this morning and hopefully, we’ll have it closed out.”