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Budget 2000: Developing an innovative economy |
15 June 2000
Budget 2000 contains a suite of measures to assist business and regional development, to add knowledge to New Zealand's productive base and to unlock the potential of e-commerce. We want to develop an economy which adapts to change and increases the employment opportunities and incomes of all New Zealanders.
Economic Development
- New funding of $331.875 million [including GST] over the next four years.
- Industry and regional development will receive $33.750 million in Year One, $73.125 million in Year Two and $112.50 million in Year Three and subsequent years.
- An additional $3.375 million a year to the Ministry of Economic Development for policy advice on economic development.
- New embassy in Brazil.
The Knowledge Economy
- Over $43 million in Year One for research, science and technology, including a record $20.8 allocation to encourage R&D in the private sector.
- More than $11 million over the next four years to promote e-commerce.
- $9.5 million over two years for Trade New Zealand to improve its online services for exporters. [Announced 19 May]
- Funds to promote export education. [Announced 23 May]
- $400,000 over four years to strengthen consumer protection on the net. [Announced 9 June]
Employment
- $21 million in additional funding over four years to buy vocational services for people with disabilities.
- $25 million over four years to help the unemployed gain work experience.
- $28 million over 4 years on Maori and Pacific Island employment initiatives. [Detailed in the 'Closing the Gaps' package.]
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