Green Party unveils $6 billion economic development plan

The Green Party has released an economic development plan valued at nearly $6 billion over four years. The party claims the package will create 284,000 jobs, which includes an additional 64,000 jobs beyond the 220,000 forecast by Treasury.

A central component involves rescoping the current Government's Investment Boost into an 'Innovation Boost'. This new policy would focus on incentivising productive investment that aligns with decarbonisation, decent work principles, and industry policy objectives.

The plan includes $420 million for ''mission fellowships' for technical specialists and early- to mid-career researchers. It also proposes a $775 million 'Idea to Export Pathway' to help innovators move from research to commercialisation and scaling.

Further measures include $500 million to fund public science and restoring core science operating funding. The party aims to align research and development spending to 3% of GDP, up from the current 1.5%.

How it developed

• Tue 13 Oct, 11:23amThe plan includes boosting funding for tertiary research and restoring funding for centres of vocational excellence.

Where reports differ

• One report estimates the cost of the rescoped Innovation Boost at $3.85 billion, while another estimates the total package at nearly $6 billion.

Compiled from reports by 1News, The Post, NZ Herald and Otago Daily Times.