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

 


B2000: Investing in Knowledge

Hon Pete Hodgson
Minister of Research, Science and Technology

15 June 2000


Investing in Knowledge

The Government will invest over $43 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 increase brings the total public investment in RS&T to $474 million. It includes a record injection of $20.8 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.

"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 and an increase of $9 million in funding for Technology New Zealand.

"We've opted for a grants approach rather than tax deductions because our advice was that grants were more effective. Tax deductions may be unavailable to innovative firms in the start-up phase, when the need for R&D support is often most urgent."

The extra funding for Technology New Zealand takes its budget to $24.7 million. The agency co-funds qualifying businesses to assess their technology needs, investigate new technology 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 leads to opportunities with major benefits for our society and the economy."

 The New Economy Research Fund increases by $2.9 million to a total of $50.8 million. It opens up new areas of research with an identifiable potential to create whole new types of business for New Zealand.

 The Marsden Fund increases by $2 million to $25.8 million. It supports curiosity-driven research at the frontiers of knowledge that has the potential to be of international significance.

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 five smaller, better targeted research funds.
Some $36 million has been moved from the former PGSF to the New Economy Research Fund, as previously announced. The new research funds include:
 Maori Knowledge and Development – increased by $0.5 million to $3.99 million.
 Social Research – increased by $0.6 million to $4.3 million.
In addition - Health Research has increased by $1.5 million to $33.4 million and funding of $0.55 million has been 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.


ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Ruataniwha: DOC, Hawke's Bay Council Developer Take Supreme Court Appeal

The Department of Conservation and Hawke's Bay Regional Investment Company (HBRIC) are appealing to the Supreme Court over a conservation land swap which the Court of Appeal halted. More>>

ALSO:

With NZ's Marama Davidson: Women’s Flotilla Leaves Sicily – Heading For Gaza

Women representing 13 countries spanning five continents began their journey yesterday on Zaytouna-Oliva to the shores of Gaza, which has been under blockade since 2007. On board are a Nobel Peace Laureate, three parliamentarians, a decorated US diplomat, journalists, an Olympic athlete, and a physician. A list of the women with their background can be found here. More>>

Gordon Campbell: On The Key Style Of Crisis Management

At Monday’s post Cabinet press conference Key was in his finest wide- eyed “Problem? What problem?” mode. No, there wasn’t really a problem that top MPI officials had been at odds with each other over the meaning of the fisheries policy and how that policy should be pursued... More>>

ALSO:

Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>

ALSO:

Wellington: Predator Free Capital Plan

Wellington City Council (WCC), the Greater Wellington Regional Council (GWRC) and NEXT Foundation, today announced a joint collaboration to make Wellington the first Predator Free capital city in the world. More>>

ALSO:

Gordon Campbell: On Judith Collins’ Efforts At Self Correction

Thousands of prisoners currently in prison may be entitled to an earlier release than expected – and compensation – because Corrections has incorrectly calculated their term of imprisonment. Unless of course, the government buries its mistakes by changing the law and retro-actively getting itself off the hook… More>>

ALSO:

More Justice & Corrections

Sector Opposes Bill: Local Government Bill Timeframe Extended

The Minister of Local Government Peseta Sam Lotu-Iiga has asked the Select Committee to extend the report back date for the Local Government Act 2002 Amendment Bill (No 2). More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news