R&D spending hits record high in New Zealand

Government claims tax concessions have played a big role in stimulating private sector spending

R&D spending in New Zealand has hit a record level, with the government attributing the increase in part to its tax refund policies.

In a statement on 30 April, research, science and innovation minister Ayesha Verrall said that total spending had increased by 67 per cent since 2016, reaching more than NZ$5 billion annually. The figure covers business, government and university spending.