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Knowledge breeds prosperity

Knowledge breeds prosperity

“Today’s announcements by Prime Minister John Key have three vital elements which will re-shape our society and economy,” says Science New Zealand chief executive Anthony Scott.

“The first is putting research science and technology alongside traditional priorities for public investment such as health and education. In a very constrained economic environment, elevating RS&T investment to third place signals a real commitment to what other economies have known for a very long time: that knowledge breeds prosperity.

“The second is the level of trust being placed jointly in the public and private sectors to identify and work together on stuff that has direct relevance and value to New Zealand. Companies and research organisations such as Crown Research Institutes are closer to markets and science than any central purchase agency. The new money and new funding processes enables that joint knowledge to be focussed on innovations in products and services that will benefit New Zealand.

“The third element is the incentive to all businesses to look for opportunities to shift up the value chain, using R&D. The Government has been carrying much of the burden of the national RS&T investment for many years. But the extraordinary benefits of RS&T, as seen in many other economies, will only accrue and multiply once the private sector is fully engaged. There are now clear signs that New Zealand businesses are stepping up to that challenge.

“Today’s announcements follow on from increases in last year’s Budget, and simplification and other reforms in the science system. It is building momentum in the science and business arenas which is potentially game changing for New Zealand’s prosperity.”

ENDS

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