Labour has already said it wants to add employment to the Reserve Bank of New Zealand's mandate, alongside inflation, to give it a dual target.
While the actual allocations will not be revealed until Wednesday, it is believed that Peters has again got Foreign Affairs, the portfolio he held when New Zealand first supported the 2005 - 2008 Labour Government.
"There has to be a balance between delivering for our exporters but also making sure we can protect the ability of New Zealanders to buy homes", Ardern told Sky News on Sunday.
"You'll see a reduction in inequalities", she said.
"There was certainly a view by New Zealand First that that needed to be applied to those who exported our pristine water in the form of bottled water, but they disagreed on a resource rental on water beyond that".
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But during the election, despite being "one of their own", the town became the centre of protests against Ardern's plans for a water tax.
Ardern, 37, will be New Zealand's youngest leader in more than 150 years, and hopes to take the country on a more liberal path following nine years of rule by the conservatives.
One of the core things Labour and New Zealand First did agree on, Ms Ardern says, is the establishment of a ban on foreign buyers purchasing existing houses.
"There is going to be a change and a clear signal sent internationally that New Zealand is no longer for sale in the way it has been.
That means dumping National's plans and replacing it with Labour's package that was substantially more generous", she said at a press conference.