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Opposition slams innovation report

05:04 Wed Aug 22 2012
AAP

Opposition parties say the government's new innovation agenda is a useless document full of old ideas.

The plan was announced on Tuesday and says New Zealand needs to get better at translating smart ideas into commercially successful products.

It says raising business research and development presents "significant challenges" and the government can help by setting competitive tax rates and prudent fiscal and monetary policy.

Labour says it's a "buffed up pamphletof old announcements" and is even weaker than last week's economic growth report.

"National's ultimate goal is to see New Zealand business innovation at just one per cent of GDP," leader David Shearer says.

"Other small countries have innovation rates three times that target - we need to set our sights higher."

The Green Party says the innovation report ignores the "critical role" of clean technology.

"National has gone from promising a `brighter future' to producing brighter booklets," co-leader Russel Norman says.

"Four years in office and the government is failing to lead the innovation step change the economy needs."

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