Parliament

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

 

Govt planning to reduce support for business R&D

The Government is planning to reduce support for business research and development in New Zealand’s fast-growing R&D intensive tech firms, National Party Research, Science and Innovation Spokesperson Parmjeet Parmar says.

“Hidden way down the back on page 31 of their proposal to introduce R&D tax credits is the news that they plan to cancel R&D growth grants at the same time,” Ms Parmar says.

“This will negatively affect hundreds of New Zealand’s most innovative technology focused companies.

“All of those companies will drop from getting 20 per cent of their research and development expenditure re-funded down to 12.5 per cent.

“And start-ups making a loss may have to wait until they are making a profit to cash-in any tax credit, that could take years compared to the current system which provides grant funding immediately.

“How is this supposed to grow R&D? How is it supposed to speed up development of our high-value tech sector?

Ms Parmar says that the change from growth grants to R&D tax credits will also lead to a big boost in business for accountants.

“When suddenly everyone can get a tax credit for any R&D, it will be amazing how much R&D your average business will find it was doing.

“All over the world these tax credit schemes are ripe for abuse, with their introduction always leading to a lot of ordinary expenditure being ‘reclassified’.

Ms Parmar says that it is telling that the Government’s first practical move in the science and technology sector is to reduce investment rather than increase it.

“These people have talked a big game in science and innovation for a long time. It’s sad for the science and tech sectors, and for New Zealand’s future, that their first move is to take us backwards.

“While small as a percentage of the economy, R&D has been rapidly growing under the previous Government’s settings. Ms Woods needs to explain how it will grow faster when they are reducing the incentive.”

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Joseph Cederwall: Building a Community Newsroom

The “Scoop 3.0” Transition Plan
There is good reason to believe that a new path and a better future is possible for Scoop in 2019 as a pioneering independent Media company. A combination of new technology, ideas, institutions and business models and a renewed energy and commitment by the Scoop team, means Scoop aims to be at the forefront of the development of this renaissance that we term ‘News 3.0’.

By opening up Scoop’s structure to community ownership and exploring decentralised technology through the blockchain we can ensure the public has a stake in this enterprise and a say in its development. More>>

 

Gordon Campbell: On Jami-Lee Ross (And The New Hobbit Law)

Clearly, Jami-Lee Ross is not waging a normal form of political warfare, with agreed rules of combat and rational cost/benefit calculations.

This is politics-as-terrorism where everything is being sacrificed by the man in the bomb vest in order to remove Simon Bridges as the leader of the National Party. More>>

Text Messages Released: National On $100,000 Donation(s)
The Botany Electorate of the National Party received 8 donations, and Mr Ross declared 8 donations to us. More>>

ALSO:

Film Industry Working Group:

Three Killed: DOC Supporting Family, Colleagues After Helicopter Crash

The Department of Conservation (DOC) is rallying around family and colleagues of the staff who died in a helicopter crash this morning in Wanaka... The helicopter, with two DOC staff on board, was on its way to undertake tahr control in the Haast area when it crashed. More>>

ALSO:

Political Donations: Greens Call For Tighter Anonymity Rules And Public Funding

“It is clear that those vested interests have a tangible influence on the decision making of political parties. This is a threat to democracy and should change.” More>>

ALSO:

Education Amendment Bill Passes: Urgency Sought For Partnership School Treaty Claim

The claim takes issue with the acts and omissions of the Crown in respect of the closure of Partnership Schools | Kura Hourua. More>>

ALSO:

Salvation Army Paper: Call For Public Housing Investment

To meet these future demands the report suggests the government needs to look beyond the private rental market and begin to invest heavily into home-ownership programmes and more public and social housing. More>>

ALSO:

Cull: Himalayan Tahr Control Operation Proceeding

“The target of controlling 10,000 Himalayan tahr over the next eight months remains. The revised plan provides for a staged control operation with increased reporting to the Tahr Liaison Group...” More>>

ALSO:

Health: Petitions To Fund Breast Cancer Drugs

Women marching to Parliament today, to present two petitions calling for Government funding of vital medicines, have 100% support from a coalition representing than 30 breast cancer organisations. More>>

ALSO:

Animal Welfare Advisory Committee: Report On Rodeo Practices Released

The independent committee that advises the Minister responsible for Animal Welfare, has today released a report on animal welfare in rodeos, together with advice to the Minister making recommendations to improve the welfare of the animals in rodeos. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels