NZ Budget to fund "national science challenges"

A boost to science and innovation funding stands out as the only significant area of new spending not previously signalled for the 2012 Budget.

The Budget Policy Statement, issued this morning, highlights both the transformation of the Crown Research Institute, Industrial Research Ltd, into an advanced technology institute with campuses in Auckland, Wellington and Christchurch.

In addition, the Budget will “establish funding for a series of National Science Challenges to find innovative solutions to some of the most fundamental issues New Zealand faces in its future development,” the BPS says.

BusinessDesk.co.nz

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