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


NZ Fast Forward structure confirmed

26 June 2008

NZ Fast Forward structure confirmed

New Zealand Fast Forward will be governed by two new crown companies, Agriculture Minister Jim Anderton said today.

He said both would be small organisations with specific tasks, and members with specialist skills.

One - New Zealand Fast Forward Fund Ltd - would be a three-member board responsible for the stewardship of the $700 million Government contribution over the 15-year life of the fund.

"The expectation is that this will be invested conservatively, in products such as Government securities, for example."

He said the other, New Zealand Fast Forward Ltd, would have a board of up to seven people, with a chief executive and small secretariat, to fund innovation programmes across the whole value chain from farm to fork.

"This company will approve and monitor the industry-government projects that will drive innovation within the food and pastoral agriculture sectors."

Jim Anderton said that already, there has been strong support from pastoral and food industry groups, with indicative commitments of around $70 million a year so far.

"This is a sign that industry recognises the benefit of the New Zealand Fast Forward initiative. This is the single largest boost to innovation in our nation's history. It means that we as a nation will be able to enhance our living standards as we develop and market new products and better technology."

The two boards are expected to be set up within a month, when appointments of chairs and directors are made.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Back Again: Government Approves TPP11 Mandate

The Government has approved a negotiating mandate for Trans-Pacific Partnership 11 (TPP11), which will ensure New Zealand businesses remain competitive in overseas markets.

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>




Gordon Campbell: On Why Labour Isn’t Responsible For Barnaby Joyce

As a desperate Turnbull government tries to treat the Barnaby Joyce affair as a Pauline Hanson fever dream – blame it on the foreigners! We’re the victims of the dastardly New Zealand Labour Party! – our own government has chosen to further that narrative, and make itself an accomplice. More>>


Rail: Greens Back Tauranga – Hamilton – Auckland Service

The Green Party today announced that it will trial a passenger rail service between Auckland, Hamilton and Tauranga starting in 2019, when it is in government. More>>


Housing: Voluntary Rental Warrant Of Fitness For Wellington

Wellington City Council is partnering with the University of Otago, Wellington, to launch a voluntary Rental Warrant of Fitness for minimum housing standards in Wellington, Mayor Justin Lester has announced. More>>


Treaty: Agreement In Principle Signed With Moriori

“The Crown acknowledges Moriori was left virtually landless from 1870, hindering its cultural, social and economic development. The Crown also acknowledges its contribution to the myths that the people of Moriori were racially inferior and became extinct." More>>


Susan Devoy: Call For Inquiry Into State Abuse Reaches UN

Race Relations Commissioner Dame Susan Devoy is in Geneva and has asked a United Nations committee to urge the New Zealand government to initiate an inquiry into the physical and sexual abuse of children and disabled people held in state institutions. More>>


(Not National): Cross-Party Agreement On Pike River Re-Entry

The commitment was signed this afternoon by the leaders of Labour, United Future, The Maori Party, and the Green Party and, together with the earlier commitment by New Zealand First, means that there is now a Parliamentary majority behind the families’ fight for truth and justice. More>>






Featured InfoPages

Opening the Election