Greens welcome R&D tax changes; call for sustainable economy

21st March 2001

Giving greater certainty to business over tax deductability of R&D costs is a positive step, said Green Party commerce spokesperson Rod Donald

Under a tax bill to be introduced by the Government in April, business R&D expenses will be tax deductible.

"Aligning tax and accounting treatments of R&D is a great innovation. The Greens will support this amendment because it provides greater certainty for business and reduces compliance costs," he said.

However Mr Donald sounded a warning note about further moves on R&D saying that the Government has yet to put in place measures to ensure R&D was focussed on sustainable endeavours.

"The Greens want to see an ecologically sustainable economy, not just a knowledge economy" said Mr Donald.

"We would like to see requirements to ensure public sector R&D is focussed on moving us to an ecologically sustainable path."

Mr Donald said the Greens would be reluctant to support further tax concessions for private R&D without a broader commitment to New Zealand's sustainable development.

"Our research efforts need to sit within a broad national vision for an eco-nation." said Mr Donald. "Taxpayers dollars ought to be supporting our eco-entrepreneurs, not subsidising ecologically dangerous research such as genetically engineered crops or animals."

ENDS

© Scoop Media

Gordon Campbell: On the Sony cyber attack

Given the layers of meta-irony involved, the saga of the Sony cyber attack seemed at the outset more like a snarky European art film than a popcorn entry at the multiplex.

Yet now with (a) President Barack Obama weighing in on the side of artistic freedom and calling for the US to make a ‘proportionate response’quickly followed by (b) North Korea’s entire Internet service going down, and with both these events being followed by (c) Sony deciding to backtrack and release The Interview film that had made it a target for the dastardly North Koreans in the first place, then ay caramba…the whole world will now be watching how this affair pans out. More>>