INDUSTRIAL RESEARCH Govt Aid For Some Work

Press, Volume CIX, Issue 32099, 22 September 1969, Page 1

INDUSTRIAL RESEARCH Govt Aid For Some Work

(From Our Own Reporter)

WELLINGTON, Sept. 21. Expenditure of up to $25,000 on approved industrial research development projects will now automatically qualify for a Government research grant of 50 per cent of the research expenditure, said the Minister of Finance (Mr Muldoon) before leaving today to attend financial meetings overseas.

For higher amounts, aplication for research grants would be looked at more carefully to gauge the contribution the research and development project was likely to make in the economic development of New Zealand.

Mr Muldoon said the committee, which was established to administer the research grants scheme—announced in the 1969 Budget—was well advanced in its work and would shortly make a detailed announcement on the terms and conditions under which grants will be made. The committee has an independent chairman, Mr J. T. Andrews, chairman of the National Research Advisory

Council. The other members are the Secretary of Industries and Commerce (Mr M. J. Moriarty) and the Secretary to the Treasury (Mr H. G. Lang).

Tentative inquiries have been made by firms wishing to embark on research and development in chemicals, building, metals and engineering, food technology, fibres and textiles, petroleum products, plastics, radio and electronics, and paper and packaging.

Firms’ applications will take some time to investigate; the Government is placing $106,000 on the supplementary estimates to cover the cost of research grants to be made in the current financial year.