Hon Pete Hodgson
Minister of Research Science and Technology

31October 2008 Media Statement

Bennett’s admission unsurprising

Science Minister Pete Hodgson says he is unsurprised by Hamilton East MP David Bennett’s admission that the National Party has got its science policy wrong.

“There is naïve honesty about his remarks and I am sure he has been under a lot of pressure because he represents one of the more research intensive electorates in the country.

“However he also made an important error by saying that Fast Forward: New Zealand is being funded by overseas borrowing. It is not. The money is in the bank and it is earning $1million in interest each week, all of which will go into science.

“Mr Bennett’s comments come on top of the mounting dismay from the research sector at the plan by National to cancel the R&D tax credit. Small and large companies are of one mind that this is a particularly dumb thing to do as a global recession approaches.

“We need fast moving, fast growing companies to help us pull through this difficult period yet these are the very companies that will have tax increases under National.”

ENDS

© Scoop Media