15 Sep 2014

Nats to boost business R&D by $20m

2:11 pm on 15 September 2014

The National Party is promising to invest an extra $20 million a year into business research and development.

If re-elected, it pledges to boost the Callaghan Innovation grant scheme for business research from $142 million a year to $162 million.

National's science and innovation spokesperson Steven Joyce said that was a responsible increase which would allow New Zealand to move to another level.

He said National had overseen huge growth in the number of hi-tech companies investing in research and development.

Mr Joyce said National would also set up job fairs for New Zealand employers in Sydney, Melbourne and Brisbane.

Researcher working on biofuels.

Photo: REUTERS