16 MAY, 2013
Budget 2013: Investing $200m in science, innovation & research
Budget 2013 delivers on the Government’s commitment to building a more competitive and productive economy with $200 million of new funding over the next four years for science and innovation, Science and Innovation Minister Steven Joyce says.
“Science and innovation are key drivers of economic growth and international competitiveness. To achieve this, New Zealand needs to develop better linkages with international markets and be a stronger player in research and development,” he says.
“Increasing Government funding in science and innovation will help support our businesses to grow, deliver more and higher-paying jobs for New Zealanders, and improve our living standards.”
The Government’s total cross-portfolio funding for science and innovation rises from $1.24 billion in 2012/13 to $1.36 billion in 2013/14*.
Total direct cross-portfolio science, innovation and research funding has risen by 28 per cent over the past four years.
New funding over the next four years includes:
- $75.2 million for business R&D grants.
- $31.3 million for repayable grants for start-up businesses.
- $73.5 million for the National Science Challenges.
- $20 million for the Marsden Fund.
- “This increased investment in science and innovation will help grow our economy, protect our environment, and provide the world-class public services that New Zealand families need,” Mr Joyce says.
*The Government’s total cross-portfolio funding for science, innovation and research in 2013/14 includes:
- Vote Science and Innovation $927.3 million
- Vote Education (Tertiary) $313.2 million**
- Vote Primary Industries $ 97.7 million
- Other Government Budgets (estimate) $ 18.3 million
- Total $1.36 billion
** This includes the additional $100 million over four years for the Performance-Based Research Fund (PBRF) announced in Budget 2012.