BUDGET 2016: Joyce flags extra $410.5 mln for science research
By Paul McBeth
May 26 (BusinessDesk) - Science and Innovation Minister Steven Joyce announced an extra $410.5 million to fund science
projects over the next four years in today’s budget.
The new funding is expected to push up cross-government spending on science and innovation to $1.6 billion a year by
2019/20, and is part of Joyce’s drive to grow business investment in research and development to more than 1 percent of
the economy.
The biggest beneficiary of the new funds is the Endeavour Fund with $113.8 million over the period. The fund replaced
the Ministry of Business, Innovation and Employment’s contestable fund and has been tilted to long-term, high impact,
mission-led programmes. A further $66 million has been earmarked for the Marsden Fund and $63 million for the Strategic
Science Investment Fund, which provides a mechanism to start, monitor and contrast different initiatives.
“Innovative New Zealand is a major step towards delivering on the vision of the national statement of science
investment, and also supports the Business Growth Agenda, which seeks to grow business investment in R to over 1 percent of GDP (gross domestic product),” Joyce said in a statement. “Creating a thriving, independent
research sector will have a strong impact on New Zealand’s productivity, prosperity and wellbeing.”
The funding comes amid grumblings from New Zealand’s science community that the government has been too fixated on
backing R at the commercial end, an accusation Joyce has consistently rejected.
The government will also increase funding to support tertiary education and apprenticeships in science, engineering and
agriculture by $256.6 million over the next four years, and provide $94.4 million to support regional economic
initiatives.
Those packages include $86.1 million over four years to lift tuition subsidies in science, agriculture, veterinary
science, and undergraduate medicine subjects, and $40 million to back regional R initiatives.
(BusinessDesk)