Prime Minister John Key’s announcement science and innovation will be at the heart of next week’s Budget is a positive step forward, say business and manufacturing industry leaders, but the biggest challenge will be commercialising the research for the benefit of New Zealand.

Businesses are looking for the focus to be changed away from research on its own, and into commercialisation of new discoveries and technologies. Businesses see NZ as “pretty good” at research, but not so good on the commercialisation side. The Employers and Manufacturers Association wants a “New Zealand Inc” approach to R&D in this country. But it criticises the fact not enough state funding is spent on creating jobs.

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The New Zealand Manufacturers and Exporters Association has also welcomed the budget thrust toward more funding for science and innovation but believes there’s little hope for any major changes to the status quo. It says business should remember this is the Govt which cancelled the R&D tax credit. But tax credits are easy to fiddle and pre-occupy accountants who try to figure out if their clients qualify for tax breaks. Grants are easier to monitor. Whatever the situation red tape will be increased.

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