 The election was held on October 12, 1996 however the government was not formed until December 10.New Zealand First was founded by Winston Peters, a former National cabinet minister who had been dismissed by Jim Bolger in 1991 after criticising party policy.Prior to the election, he created the impression that he would not join a National-led government, but after months of negotiations with both National and Labour, Peters announced his party would enter into coalition with National.