Chris Luxon says he and his soon-to-be coalition partners have achieved a milestone in Government-forming negotiations.

The incoming Prime Minister says the policy element of talks with ACT and New Zealand First concluded last night.

Luxon says the last remaining step is formalising Cabinet positions - but the end is in sight.

ZB political editor Jason Walls says NZ First and ACT still need to approve the final arrangements with National- and Winston Peters won't budge.

LISTEN ABOVE

• 'Major achievement': National agrees policy deals with Act and NZ First
• Christopher Luxon is dragging his feet on coalition talks to get tax policies over the line - political expert
• Luxon emerges from talks with Peters, says only three outstanding issues remain