National Quietly Dumps Agriculture Innovation Fund
February 16th, 2009
National has completed the dismantling of the $700m investment in primary sector innovation through the NZ Fast Forward fund. Opposition agriculture spokesperson, Jim Anderton, says he discovered at the Primary Production Select Committee the Govt has compulsorily retired the Fund’s board and transferred the cash back into the consolidated account.
Poor policy. He says the Govt has not publicly acknowledged these steps nor what it is doing with the $700m. Instead of making investment available for partnerships with industry to secure the future strength of the primary sector, he says National is merely pledging it will give money to state agencies. “Right now investment in innovation and the future strength of our major export industries is critical. National has responded with a shamefaced slash of the largest research and development investment ever made by the public and private sector.”
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