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Implementing the growth and innovation strategy
$35 million plus in 2002-03 on industry and regional development initiatives.
[The money was allocated in Budget 2000 and comes on stream in this budget.]
Key features include:
- A major push to attract investment.
- Around $8 million to support the biotechnology, creative industries and ICT taskforces.
- An internet broadband initiative. [Also features in the education package.]
- Increased support for cluster development among businesses.
Research, Science and Technology.
- $33.5 million over four years to the Marsden Fund and the New Economy Research Fund.
- $15.6 million over four years to accelerate the uptake of new technology by New Zealand firms.
- $6.3 million a year for four years to support research partnerships.
- $5 million over three years for Science, Mathematics and Technology Teacher Fellowships.
- Major new research project co-funded with the Wellcome Trust on the health of Pacific peoples.
$146 million over four years to the Inland Revenue Department.
- $124.8 million to improve enforcement.
- $17 million to fund work into reducing tax compliance costs for small and medium enterprises.
- $4.2 million into new debt and hardship rules.
Improving the business regulatory environment.
- $7.73 million over four years for the Securities Commission
- $1.61 million over two years toward reducing business compliance costs
- $1.1 million over four years to the Accounting Standards Review Board.
Pre-releases.
$44.3 million for programmes to assist Maori development. [Voted in previous budgets, released in this budget.]
$320,000 to help fund Business in the Community and Company Rebuilders - two voluntary mentoring organisations.
Tourism package: $1.31 million to assist Tourism New Zealand to establish and operate a new office in India; $632,000 to further develop New Zealand's Visitor Information Network; and $220,000 for new research into the development of cultural tourism. [Money allocated last year, comes on stream this year.]
$11.6 million over four years to develop better data on skills needs in the economy.
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