Parliament

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

 

$20m a year more for business R&D

$20m a year more for business R&D

A re-elected National Government will invest $20 million a year more in business R&D co-funding through Callaghan Innovation to further lift funding towards the new Business Growth Agenda target of 1 per cent of GDP by 2018, National Party Science and Innovation Spokesman Steven Joyce says.

"Under National we have seen big growth in the number of innovative hi-tech companies investing heavily in R&D to create more unique products and services that are in demand on the world stage,” Mr Joyce says.

"We have seen a 25 per cent lift in business R&D activity in just two years, and this latest increase in funding will help lift it again, in a fiscally responsible way.”

The new funding will lift annual amounts available to Callaghan Innovation to incentivise Business R&D from $142 million to $162 million (a 14 per cent increase), and it will translate to a $100 million a year increase in total business R&D investment at the Callaghan Innovation R&D Growth Grant subsidy rate of 20 per cent.

"Lifting business R&D support through Callaghan Innovation's comprehensive suite of research services, advice, and grants co-funding, is one of the hallmarks of this Government's Business Growth Agenda,” Mr Joyce says. "It is a key part of our overall cross-government science and innovation investment, which has grown by more than 70 per cent over the last six years to a projected $1.5 billion a year in 2015/16.”

Other initiatives in National's Science and Innovation Policy include:
• Investigating the development of up to three new private sector Regional Science Institutes similar to Nelson's Cawthron Institute, and Wellington's Mallaghan Institute.
• Completing the rollout of the eleven National Science Challenges to tackle the biggest science-based issues facing New Zealand.
• Further boosting primary sector R&D by establishing a Food Safety Science and Research Centre.
• Setting up four new Centres of Research Excellence at New Zealand universities.
• Implementing the Science in Society project to encourage school students in study science, technology, engineering and maths.
• Finalising the National Statement of Science Investments to help guide our next investments in Research and Development as we look to achieve our Government R&D target of 0.8 per cent of GDP over time.

“National has an excellent track record on science and innovation,” Mr Joyce says.
“Through the toughest of times we have significantly increased New Zealand's expenditure in this area.

“Science and innovation is an investment in New Zealand's future and National will remain focused on both making that investment directly and encouraging private sector investment, on behalf of all New Zealanders.”

National’s Science and Innovation Policy is available at:http://ntnl.org.nz/1qxr0Gp

ends

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Charlotte Graham: Empowering Communities To Act In A Disaster

The year of record-breaking natural disasters means that in the US, as in New Zealand, there’s a conversation happening about how best to run the emergency management sector and what philosophies best engage and protect communities in the event of a crisis.

How much of the responsibility for a community’s safety in a natural disaster is the Government’s, and how much can be left up to the community themselves? And how do we ensure none of our most vulnerable residents are left behind? More>>

 

CPAG Report: The Further Fraying Of The Welfare Safety Net

New Zealand’s welfare system has undergone a major transformation during the past three decades. This process has seriously thwarted the original intent of the system, which was to provide a decent standard of living for all New Zealanders in times of need... More>>

ALSO:

Signage, Rumble Strips, Barriers: Boost For State Highway Road Safety

Boost for road safety this summer Associate Transport Minister Julie Anne Genter today announced a short term boost in road safety funding this summer and signalled a renewed focus from the Government on introducing safer speed limits. More>>

ALSO:

Risks & Adaptation: Cheaper To Cut Emissions Than Deal With Climate Change

The cost of climate change to New Zealand is still unknown, but a group of experts tasked with plugging the country's information gaps says it will likely be significant and it would be cheaper to cut greenhouse emissions than simply adapting to those changes. More>>

ALSO:

BPS HYEFU WYSIWYG: Labour's Budget Plans, Families Package

“Today we are announcing the full details of the Government’s Families Package. This is paid for by rejecting National’s tax cuts and instead targeting spending at those who need it most. It will lift 88,000 children out of poverty by 2021." More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages