U.S. Markets closed
  • S&P 500

    3,638.35
    +8.70 (+0.24%)
     
  • Dow 30

    29,910.37
    +37.90 (+0.13%)
     
  • Nasdaq

    12,205.85
    +111.44 (+0.92%)
     
  • Russell 2000

    1,855.27
    +10.25 (+0.56%)
     
  • Crude Oil

    45.53
    -0.18 (-0.39%)
     
  • Gold

    1,788.10
    -23.10 (-1.28%)
     
  • Silver

    22.64
    -0.81 (-3.44%)
     
  • EUR/USD

    1.1970
    +0.0057 (+0.4788%)
     
  • 10-Yr Bond

    0.8420
    -0.0360 (-4.10%)
     
  • Vix

    20.84
    -0.41 (-1.93%)
     
  • GBP/USD

    1.3314
    -0.0042 (-0.3169%)
     
  • USD/JPY

    104.0850
    -0.1650 (-0.1583%)
     
  • BTC-USD

    17,750.80
    +152.55 (+0.87%)
     
  • CMC Crypto 200

    333.27
    -4.23 (-1.25%)
     
  • FTSE 100

    6,367.58
    +4.65 (+0.07%)
     
  • Nikkei 225

    26,644.71
    +107.40 (+0.40%)
     

New Zealand PM Ardern to announce government on Nov. 2

·1 min read

MELBOURNE, Oct 31 (Reuters) - New Zealand Prime Minister Jacinda Ardern said on Saturday she will announce her new government on Monday after offering the Green Party two ministerial portfolios outside of cabinet as part of a proposed cooperation agreement.

Ardern delivered earlier this month the biggest election victory for her centre-left Labour Party in half a century. Although she no longer needs support to govern, coalitions are the norm in New Zealand as parties look to build consensus.

Under the agreement offered to the Green Party - one of Ardern government's coalition partners prior to the election - the two portfolios would be held by the Green Party's co-leaders.

James Shaw would be minister for climate change and would be associate environment minister, while Marama Davidson would become the minister for the prevention of family and sexual violence.

"On election night I said I wanted to govern for all New Zealanders and to reach as wide consensus on key issues as possible," Ardern said at a televised news conference. "This agreement does that."

In return, Ardern said, the Greens would not oppose the government on confidence and supply votes. They would also support Labour on procedural motions in the parliament.

The Green Party would be able to take their own position on issues not covered by the ministerial portfolios and areas of co-operation.

The cooperation deal could still be rejected by the Green Party membership who were to vote on it on Saturday, but Ardern said she would announce the composition of the government on Monday regardless of the Green Party's decision.

(Reporting in Melbourne by Lidia Kelly; Editing by Michael Perry)