INDEPENDENT NEWS

$326m boost for science, innovation, and research

Published: Thu 24 May 2012 02:15 PM
Hon Steven Joyce
Minister of Science and Innovation
24 May 2012
$326m boost for science, innovation, and research
Budget 2012 delivers on the Government’s commitment to building a more competitive and productive economy, with $250 million of new operating funding and $76.1 million in capital funding over four years for science, innovation, and research.
“Science and technological innovation are major drivers of growth and international competitiveness, which is why we have continued to increase funding for them despite tight fiscal constraints,” Science and Innovation Minister Steven Joyce says.
“The only way we can create jobs, pay for public services, and lift New Zealanders’ living standards is through faster, sustainable economic growth.”
The Government’s total cross-portfolio funding for science, innovation, and research rises from $1.16 billion in 2011/12 to $1.24 billion in 2012/13*. Total direct cross-portfolio science, innovation, and research funding has risen by 17 per cent over the past four years.
New funding over the next four years includes:
• $90 million operating funding and $76.1 million capital funding to create the Advanced Technology Institute (ATI) to work with the high-tech manufacturing and services sector.
• $60 million operating funding for National Science Challenges to find innovative solutions to some of the most fundamental issues New Zealand faces.
• $100 million additional research funding (from Vote Tertiary Education) by increasing the size of the Performance-Based Research Fund to $300 million by 2016.
“The ATI and National Science Challenges will help boost the economy and improve New Zealand’s health, society, and environment,” Mr Joyce says.
“The creation of the ATI will better link business and science, and help create new high-tech products and services.
“The National Science Challenges will focus multi-disciplinary teams of researchers on addressing challenges that are fundamental to New Zealand’s future prosperity and wellbeing.
“Science and innovation are a crucial part of the Government’s business growth agenda, as well as the key to solving many of the other issues New Zealand faces.”
* The Government’s total cross-portfolio funding for science, innovation and research in 2012/13 includes:
Vote Science and Innovation: $833 million
Vote Education (Tertiary): $301 million
Vote Primary Industries: $88 million
Other Government Budgets (estimate): $18 million
Total: $1.24 billion
ENDS

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