Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Investing in knowledge (Budget)

NB This statement contains additional information to the statement in today's Budget information pack. All references to increased funding in this statement are net increases in 2000/01 compared to 1999/2000. Figures in the Budget pack statement mostly comprised new initiative funding only and excluded baseline funding increases.

The Government will invest an extra $43.6 million in research, science and technology next year, an increase of more than 10 percent, Minister of Research, Science and Technology Pete Hodgson said today.

The extra funding brings the total public investment in RS&T to $474 million. It includes a record injection of $20.3 million to partner private sector research and development.

"This is a Government that puts money where its mouth is when it comes to building a knowledge economy," Mr Hodgson said. "This Budget puts New Zealand back on track to the target of investing 0.8 percent of gross domestic product in R&D by 2010."

Mr Hodgson said the Government was committed to leading growth in private sector R&D, which is low by international standards.

"We're providing the largest ever increase in Government support for private sector R&D because we want to stimulate it, not just complain about the lack of it."

The support comprises a new $11.8 million grants programme for private sector R&D and an increase of $8.5 million in funding for Technology New Zealand.

Mr Hodgson said the grants programme was being introduced instead of tax deductions for R&D, on advice that it was a more effective means of support.

"Tax deductions, which Labour proposed in pre-election policy, may be unavailable to innovative firms in the start-up phase, when the need for R&D support is often most urgent. The advice to us from the innovation community has supported a grants scheme as a more effective and simpler means of support."

The extra funding for Technology New Zealand takes its budget to $24.7 million. The agency provides dollar-for-dollar support for businesses to invest in new technology, assess and access their technology needs and place research graduates in industry.

"We have also increased public investment in basic research," Mr Hodgson said. "This is the work that builds New Zealand's knowledge base and maintains this country's reputation as a source of world-class research."

The New Economy Research Fund increases by $8.5 million to a total of $50.8 million. It pays for long-term, curiosity driven research projects with an identifiable potential to create new categories of business for New Zealand.

The Marsden Fund increases by $3 million to $25.8 million. It supports investigator-initiated research at the frontiers of knowledge that has the potential to be of international significance.

Funding for Scholarships for Promising Individuals increases by $2 million to $10.7 million. This programme provides awards and fellowships for pre- and post-doctoral researchers, teachers, and technologists.

Mr Hodgson said the Budget also introduced a more transparent way of allocating public investment in strategic research, replacing the Public Good Science Fund with four smaller, better targeted research funds.

Some $37 million has been moved from the former PGSF to the New Economy Research Fund (of which $25 million was previously announced). Remaining PGSF investment has been divided into the following four classes, with new money added to each:

* Health Research – increased by $3 million to $33.4 million.

* Research for Industry – increased by $2.1 million to $171.1 million.

* Maori Knowledge and Development Research – increased by $0.5 million to $4 million.

* Social Research – increased by $0.6 million to $4.3 million.

* Environmental Research – increased by $0.4 million to $84 million.

Funding of $0.5 million is being provided for the new Science and Innovation Advisory Council, which will provide advice directly to the Prime Minister on strengthening New Zealand's innovation system.

"This Budget represents a major commitment by the Government to developing New Zealand as a high-tech, high-skill, knowledge-based economy," said Mr Hodgson.

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Tax Working Group’s Road Map

Trying to analyse the interim report on the Tax Working Group (TWG) is like trying to review an entire All Blacks game, but at the half- time mark.

With so much still to be finalised, Sir Michael Cullen and his colleagues are going to need all the All Blacks’ fabled finishing skills to get a coherent, fiscally neutral package together by the February 2019 deadline. More>>

 

Meth Testing Report: Housing NZ "To Right Wrong"

Phil Twyford “Housing NZ acknowledges that around 800 tenants suffered by either losing their tenancies, losing their possessions, being suspended from the public housing waiting list, negative effects on their credit ratings or, in the worst cases, being made homeless.” More>>

ALSO:

No Reshuffle: Meka Whaitiri Removed As A Minister

Meka Whaitiri will be removed as a Minister with immediate effect... The decision was made after receiving a report into an incident that occurred on 27 August in Gisborne, involving Meka Whaitiri and one of her staff. More>>

ALSO:

Pay Equity Bill: Making History For Women’s Pay

The Equal Pay Amendment Bill, introduced to the House today, will make it easier for workers to make a pay equity claim , using a more simple and accessible process within New Zealand’s existing bargaining framework. More>>

ALSO:

Suffrage 125: NZ A Trailblazer For Women

“We acknowledge the work of Kate Sheppard, Meri Te Tai Mangakāhia, and all of the suffragists who tirelessly campaigned for the vote… Today we also need to ask each other: how we can continue to make our country a fairer and better place to continue the legacy of the suffragists.” More>>

ALSO:

Asylum: Refugee Quota Increasing To 1500

“The quota increase will take place from July 2020. In the meantime, we will work to increase the number and spread of refugee resettlement and support services. We need to make sure we’re prepared for this change in policy.” More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels