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BUDGET 2003: Summary Sheet Growth and Innovation

Implementing the growth and innovation strategy

1. $140 million, excluding capital, over four years for research, science and technology.
2. $110 million over four years to respond to the recommendations of the task forces into biotechnology, design, screen production and ICT.
3. $73 million over four years to promote overseas trade.
4. $19 million over four years to the Pre-Seed Accelerator Fund.
5. $6.4 million over four years to build the business incubator programme.
6. $1.9 million a year to develop an e-commerce portal for exporters.
7. $1.84 million in 2003-04 and $960,000 in each subsequent year to support the small and medium business sector.
8. $200,000 a year for a two-year pilot programme to establish an employment relations and occupational safety and health advisory service for small and medium enterprises and $9 million over four years for the mediation service.
9. $44 million over four years [operating and capital] to target skilled migrants.
10. $39.7 million over four years to boost the capacity and capability of Statistics NZ.
11. $9.825 million over four years to improve the calibre of senior management in the state sector.
12. Research project on SOE management in the post-privatisation era.

Announced pre-budget
1. $10.6 million a year over the next three years for the Sustainable Farming Fund.
2. Additional $1.504 million for the Pacific Business Trust.
3. $550,000 to conduct a stocktake of New Zealand’s infrastructure, including road, rail and electricity.
4. $15 million over three years to promote New Zealand tourism in the USA.
5. $1.5 million in 2003-04 to implement the Tourism Strategy.
6. $640,000 in 2003-04 to open a new embassy in Warsaw.

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