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


'Fast-forward' fund - all show, no pony

Bill English MP National Party Finance Spokesman

14 March 2008

'Fast-forward' fund - all show, no pony

National Party Finance spokesman Bill English says a day after National revealed the real payouts from the so-called fast-forward fund would be less than half of what was promised, Labour has confirmed it's even worse than that.

"Labour has today confirmed the fund is likely to provide only $20 million for research in its first year, a far cry from the $85 to $100 million promised by Helen Clark.

"In a cynical attempt to grab a headline, Labour inflated the benefits of the fund to make the numbers look big. Jim Anderton has today confirmed almost nothing is certain.**

"Labour presented the public with an heroic best case scenario, such as today's definitive claim that 'two thousand million dollars' would be spent over the lifetime of this fund, including the 'thousand million' which industry will stump up with. Labour is treating the public and industry as if they are stupid."

Mr English says National will make long-term funding commitments to science, research and development which provide certainty to the sector.

"As National revealed yesterday, if Labour tries to deliver on its promise of $85 to $100 million a year, the fund would expire before year 10. The only way they could stretch it out to last the promised 15 years is to halve the Government payments.

"This does not provide certainty to the sector at all. If this policy was subject the advertising standards complaints process, Labour would be guilty of false advertising."


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On DHB Deficits And Free Trade

Currently the world is looking on aghast at the Trump administration’s plans to slash Obamacare, mainly in order to finance massive tax changes that will deliver most of their gains to the wealthy. Lives will be lost in the trade-off. Millions of Americans stand to lose access to the healthcare they need.

Spot the difference with New Zealand, where DHBs are under intense pressure to reduce deficits within a climate of chronic underfunding. More>>


Greens' Response: Slum-Like Rentals Exposed In Renting Review

“...The grim findings of the review are a wakeup call about the true state of rentals in this country. Too many renters are festering in slum-like conditions under the thumb of landlords who have largely unchecked powers and ignore tenants’ complaints when it suits them.” More>>


Gordon Campbell: On The Life And Times Of Peter Dunne

The unkind might talk of sinking ships, others could be more reminded of a loaded revolver left on the desk by his Cabinet colleagues as they closed the door behind them, now that the polls in Ohariu had confirmed he was no longer of much use to National. More>>


Gordon Campbell: On Labour’s Campaign Launch

One of the key motifs of Ardern’s speech was her repeated use of the phrase – “Now, what?” Cleverly, that looks like being Labour’s response to National’s ‘steady as it goes’ warning against not putting the economic ‘gains’ at risk. More>>


Lyndon Hood: Social Welfare, Explained

Speaking as someone who has seen better times and nowadays mostly operates by being really annoying and humiliating to deal with, I have some fellow feeling with the current system, so I’ll take this chance to set a few things straight.. More>>


Deregistered: Independent Board Decision On Family First

The Board considers that Family First has a purpose to promote its own particular views about marriage and the traditional family that cannot be determined to be for the public benefit in a way previously accepted as charitable... More>>


Transport Policies: Nats' New $10.5bn Roads Of National Significance

National is committing to the next generation of Roads of National Significance, National Party Transport Spokesperson Simon Bridges says. More>>





Featured InfoPages

Opening the Election