17 May 2018
Greater science investment to protect and grow New Zealand wealth and wellbeing
Anthony Scott, chief executive of Science New Zealand, the peak body for the Crown Research Institutes (CRIs), says the
investment in science research announced today will help protect the environment, grow New Zealand’s national and
regional prosperity, and enhance New Zealand’s contribution to global issues such as climate change, food security and
digital science.
The R Tax Credit, at 12.5% relief for companies’ spending over $100,000 on R per annum, will amplify investment of science-based innovation in both existing and new sectors. It signals that
innovation can happen anywhere and produce benefits beyond any single company.
The Green Investment Fund will complement this by accelerating private sector investment into new strands in the
economic matrix. These are just as likely to emerge from existing areas of economic strength as CRI science research
opens new opportunities for innovators. The Provincial Growth Fund also recognises that great ideas can be developed
locally and add to the national wealth by building regional prosperity and wellbeing.
The additional funding for environmental protection, pest control, biosecurity, and the primary sector is essential to
protecting and growing the economic base throughout the country. These areas are deeply personal to New Zealanders, and
part of our national identity. Each area is producing science-based solutions and innovations that are being translated
into global opportunities for New Zealand firms. CRIs partner with firms around New Zealand and know the potential is
unlimited.
The science cooperation agreement with Singapore highlights that New Zealand is a highly-valued niche player. We must
leverage benefit from that expertise and our global connectedness. Data-based science is key to the future of science,
and the future foods work promotes the skill and track record of New Zealand in food innovation.
The National Research Information System, receiving $10.1 million over four years, is a significant initiative. We are
working with the Ministry of Business, Innovation and Employment (MBIE) on this project. It should improve information
on New Zealand’s capabilities, streamline reporting and lower compliance costs so that more of the research dollar is
spent on research that makes a difference for New Zealand.
ENDS