6. DARREN HUGHES (Labour—Otaki) Link to this
to the Minister for Economic Development
What is being done to ensure that regional New Zealand benefits from economic transformation?
Hon TREVOR MALLARD (Minister for Economic Development) Link to this
The Government announced today the establishment of two new regional funds to support the growth of more internationally competitive firms. First, there is the Enterprising Partnerships Fund. This will focus on substantial regional projects that are commercially driven and generate substantial economic benefits for the region in line with national economic transformation goals. Funding under this programme will be approximately $9 million in 2007-08, $10.5 million in each of the following 2 years, and $11.5 million after that. Secondly, there is a new Regional Strategy Fund. That will give 14 regions access to a maximum of three-quarters of a million dollars each, over 3 years, to develop and implement regional economic development strategies.
Hon TREVOR MALLARD Link to this
Yes, at least two. One supported Government initiatives that provide assistance to regional development. The other considered that the Government was overspending. The first was from John Key. The second was from Bill English.