Headline: NZ R&D failure points to Steven Joyce
New Zealand’s poor research and development must be addressed through tax credits to encourage innovation in our businesses, Labour’s Economic Development Spokesperson David Clark said today.
“New Zealand has fallen down the rankings in international competitiveness with poor research and development the key driver, according to the International Institute for Management Development.
“For New Zealand to succeed we need smart and innovative companies with ideas that can compete on the world stage. Currently those companies that are succeeding are succeeding despite the Government.
“Government’s role is to support, not to inhibit business development. That’s why it’s so worrying that a major report has identified research and development as a major weakness.
“Low innovation costs Kiwis the jobs they desperately need. At the last election National promised 170,000 new jobs in four years. With two years left they are 162,000 short of that goal.
“We need R&D to be part of our DNA. Steven Joyce’s grants system isn’t supporting Kiwi companies, it’s just creating more bureaucracy and paperwork and many businesses don’t bother to apply for grants.
“Labour’s policy of R&D tax credits puts innovation at the core of businesses’ work. They don’t need to fill in forms and wait for the tick off from pencil pushers.
“All Steven Joyce is doing is replacing one grants system with another. That won’t help Kiwi business. Steven Joyce doesn’t know what the innovative ideas of tomorrow are, smart Kiwi companies do. He should get out of the way and let business get on with innovation, said David Clark.
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