Parliament

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

 

Labour commits to R&D tax credits

21 October 2008 Media Statement

Labour commits to R&D tax credits and Fast Forward


Prime Minister Helen Clark and Research Science and Technology Minister Pete Hodgson today confirmed Labour’s commitment to significant investment in innovation saying it would produce a step change in New Zealand’s economy.

“Labour believes that science and innovation lie at the heart of a modern society and a modern economy. Over the past nine years the profile of research, science and technology in New Zealand society has risen significantly,” Helen Clark and Pete Hodgson said.

“Our science and innovation policy is driven by our commitment to the largest single investment in R&D in New Zealand’s history. This is the New Zealand Fast Forward fund of $700m. It will be matched by private funding from the food and pastoral sectors, and will create a substantial step change in R&D, ranging from basic environmental research to pre-commercial development over the next 10-15 years.

“We are also confirming our 15 per cent research and development tax credit introduced earlier this year. We consider it a vital tool to lift the level of private sector research and development, and to support those clever businesses which will lead the drive for a higher value and internationally competitive kiwi economy.

“Nearly every nation has a research and development credit of some form to acknowledge the risks inherent in seeking higher economic returns.

“The tax credit alone is predicted to increase New Zealand’s private sector R&D investment from one third of the western world average to two thirds of that average in four years. It is a recipe for a smart economy – not the dumb one favoured by National.

“Across New Zealand people are astounded at National’s short-term and short-sighted policies which would take away support for fast-growing research-driven companies and industries.

“Under Labour, tertiary education is at the very forefront of knowledge development and critical thinking. It plays a vital role in this country’s research and innovation activities. Research, and research extension into industry, is crucial if we are to increase productivity. Labour will also continue to invest in the Performance Based Research Fund, lifting it above $250 million by 2010.

“Labour can be trusted to pursue polices aimed at growth and investment in the New Zealand economy, as we have done since we were elected in 1999. We have a plan for innovation backed by major investment in science, research and development and tertiary education. This is in stark contrast to the National Party who would dumb down the kiwi economy to pay for their tax cuts aimed at benefiting higher income groups,” Helen Clark and Pete Hodgson said.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Not Easy: Gordon Campbell On The Greens’ Ongoing Problems

Hard to treat the Greens’ belated decision to stand a candidate in Ohariu as being anything other than a desperation move, by a party whose own leadership is evidently concerned about its chances of survival...

A few months ago, the Greens felt able to forego that role in Ohariu in order to help a beleaguered Labour Party get its candidate Greg O’Connor across the line, and knock Peter Dunne out of the parliamentary frame. More>>

 

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... 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>>

ALSO:

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>>

ALSO:

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>>

ALSO:

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>>

ALSO:

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>>

ALSO:

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>>

ALSO:

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election