2. Hon MARIAN HOBBS (Labour—Wellington Central) Link to this
to the Minister of Research, Science and Technology
Has he received any reports on the returns from Government-sponsored research and development for businesses?
Hon PETE HODGSON (Minister of Research, Science and Technology) Link to this
I have; this Labour-led Government’s support for business research and development is paying handsome dividends. An evaluation of the Technology for Business Growth scheme just completed shows that over an 18-month period, turnover of firms participating had gone up by 30 percent, and exports for those firms had gone up by 35 percent.
If turnover and exports have risen, has research and development itself gone up, and have new products resulted from this investment?
Yes; research and development has been measured and it too has risen by 37 percent over 18 months, and a total of 127 new products, processes, or services have eventuated in that time. I look forward to still further increases in investment by the private sector in research and development, especially when the new taxation change for research and development comes into action in April next year. I express again my bewilderment that National continues to oppose those tax changes.