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The Budget 2004
Budget 2004

The Budget 2004 Overview

Supporting economic growth

Research, Science and Technology:
  • $212 million plus over four years bringing total public investment to $621 million; an almost 45 per cent increase since Labour took office.
Tertiary education:
  • $149 million package to build excellence in the tertiary education sector.
  • $110 million student support package.
Business support:
  • Up to $12 million over four years for a new Major Events Fund; part of the $500 million Growth and Innovation package, most of which has already been released.
  • $30 million to promote greater workplace productivity.
  • $10 million operational funding over four years to the Maori Business Facilitation Service.
Already announced:
  • $56.9 million to assist young people make the shift from school to work; includes another 500 Modern Apprenticeships and expansion of the Gateway programme.
  • Up to $10 million a year in the next three years and up to $12 million thereafter for NZ Trade and Enterprise.
  • $6.6 million extra a year, $26.5 million over four years, for Investment New Zealand.
  • $16.1 million over four years for the Strategic Investment Fund.
  • $35 million over four years to fund a new Market Development Assistance Scheme to help exporters develop markets.
  • Up to $2 million a year boost for Brand NZ promotions.
  • $1.7 million this year and $800,000 next year toward trade deals with China, Thailand, Chile and Singapore.
  • $3.5 million to help New Zealand take full advantage of opportunities presented by participating in next year's Aichi Expo.
  • $1.65 million to begin work on a new embassy in Cairo.
  • $40 million over four years to promote international education.
  • $26 million over four years for sector focussed development.
  • $1.2 million in each of the next two years for management development.
  • $2.3 million over three years for textile industry transformation.
  • $62 million over four years to better integrate migrants into the economy.
  • $3 million for the International Investment Opportunities Fund in 2004-05, increasing to $4 million in 2005-06 and $5 million a year from 2006-07.
  • $11 million over three years to develop tourism infrastructure.
  • $21.2 million for new initiatives, conditional on industry agreement, under the Forest Industry Framework Agreement.
  • $500,000 available if needed for further infrastructure stocktake work in the coming year.
  • $8 million over the next two years to ease the costs to exporters of Customs export clearance.


Budget 2004 All releases and overviews