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


Shipley's Venture Fund Claims: Rubbish

National leader Jenny Shipley is wrong to claim that "less research will be done" in Crown Research Institutes because the Government is taking dividends from them for the new NZ Venture Investment Fund, says Minister of Research, Science and Technology Pete Hodgson.

"Jenny Shipley has succeeded only in demonstrating her ignorance of how public science is funded," Mr Hodgson said.

"Research in CRIs and other public research institutions is funded almost entirely through Vote Research, Science and Technology, which will increase by $11.6 million this year. This includes an extra $2.3 million for the New Economy Research Fund and a $2 million increase for the Marsden Fund.

"CRIs do not fund their research from their own cash balances or borrowing. Funding for research is therefore unaffected by the Government's decision to take a dividend from CRIs.

"Most CRIs are now in strong financial positions with very low levels of debt and several have unused cash surpluses. These surpluses are expected to grow, totalling more than $40 million a year over the next three years.

"An Ernst & Young report in 1996 concluded that most CRIs could manage a gearing ratio – the proportion of debt to shareholders' funds – of up to 30 percent. At present it is less than 4 percent and falling.

"Mrs Shipley is also wrong to claim that New Zealanders will pay for the NZ Venture Investment Fund through higher power prices.

"Governments – including National governments – have taken dividends from electricity SOEs, and others, since they were established. Private generators also pay dividends to their shareholders. These are part of the normal cost of doing business in the electricity market and introduce no unusual cost pressures."


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Peters/Ardern Triumph

There are a lot of good reasons to feel joyful about this outcome. It is what so many young voters – the best hope for the country’s future – wanted.

Far more important than the implications for the Economy Gods ( is the dollar up or down? ) last night’s outcome will also mean many, many vulnerable New Zealanders will have a better life over the next three years at least.

Yet the desire for change was in the majority, across the country..>>>More


Labour on its agreement |Peters: Post-Election Announcement Speech | Greenpeace “cautiously hopeful” about new Government | ACT - Madman on the loose | E tū ecstatic | Chamber welcomes the outcome | Greens on their joining Govt | EDS welcomes new govt | Immigrant groups worry | Feds ready to engage new coalition government | Labour Ministers of the Crown announced


Climate: Increasing Greenhouse Emissions Hit NZ

New Zealand is seeing impacts of excess greenhouse gas emissions in our climate and oceans, according to the latest national report from the Ministry for the Environment and Stats NZ about the state of the atmosphere and climate…More>>


Wellington.Scoop: Arrests At Blockade Of "Weapons Expo"

“We encourage people in Wellington to get down to the Westpac Stadium now for a day of awesome peace action. There will be plenty of food, music and activities to keep us sustained through the day.” More>>


Rorschach Restructuring: PSA Taking Inland Revenue To Court Over Psychometrics

The Public Service Association will be seeing Inland Revenue in Employment Court over its intention to psychometrically test employees reapplying for their roles at the department as part of its controversial Business Transformation restructuring plan. More>>


Nuclear Disarmament: Nobel Peace Prize 2017 Awarded To ICAN

Congratulations from iCAN Aotearoa New Zealand to international iCAN, the other iCAN national campaigns and partner organisations, and the countless organisations and individuals who have worked so hard for a nuclear weapons-free world since 1945. More>>


Expenses: Waikato DHB CEO Resigns

An independent inquiry has identified that Dr Murray had spent more than the agreed $25K allocated for relocation costs, and other unauthorized expenses involving potential financial breaches of the chief executive’s obligations. More>>


Wellington.Scoop: Sad About The Trolley Buses?

The Regional Council’s MetLink is today spending money to tell us that it really loves Wellington’s trolley buses, even though they’re all being taken off our roads by the end of this month. More>>


Post-Election: Preliminary Coalition Talks Begin

New Zealand First will hold post-election preliminary discussions in Wellington with the National Party tomorrow morning and the Labour Party tomorrow afternoon. More>>




Featured InfoPages

Opening the Election