Wellbeing Budget 2020

Annex — Budget Initiatives

Business, Science and Innovation

Building and Maintaining Consumer Confidence in the New Financial Adviser Regime and Financial Markets

This initiative will provide additional baseline funding for the Financial Markets Authority (FMA). The implementation of the supervision of a new financial advice regime requires funding to ensure that it is effective and meets policy objectives. The FMA faces cost pressures related to the follow-up work to the conduct and culture review of banks and life insurers. There is also an increased expectation of the FMA to identify and address issues across the financial market sector, following the Australian Royal Commission and the conduct and culture review undertaken by the FMA and the Reserve Bank of New Zealand.

Estimates Vote 2019/20 2020/21 2021/22 2022/23 2023/24 Capital
Vol.1 Business, Science
and Innovation
- 1.304 1.304 1.304 1.304 3.800

Expanding the Impact of Vision Matauranga

This initiative expands the impact of Vision Matauranga through investment that attracts and grows Māori talent in the Research, Science and Innovation System (the system); enables Māori to better navigate and participate in the system; and funds Māori-led research, science and innovation. This initiative is fully offset by reprioritisation within baselines.

Estimates Vote 2019/20 2020/21 2021/22 2022/23 2023/24 Capital
Vol.1 Business, Science
and Innovation
- - - - - -

Finance Management Information System Renewal

This initiative provides funding for an upgrade to the Ministry of Business, Innovation and Employment's (MBIE's) Financial Management Information System (FMIS). This will ensure that MBIE can implement e-Invoicing and other cloud-based services, which will enable faster invoice payment times and provide multi-device flexibility to back-office functions that align with common all-of-government processes.

Estimates Vote 2019/20 2020/21 2021/22 2022/23 2023/24 Capital
N/A Not yet appropriated - 0.368 0.288 0.096 - -
Vol.1 Building and Construction - 0.123 0.095 0.032 - -
Vol.2 Labour Market - 1.742 1.357 0.449 - -

Introducing a Monitoring and Enforcement Regime for Engine Fuels

This initiative provides funding to enable the implementation of a monitoring and enforcement regime for the engine fuels market. This will promote competition in fuel markets for the long-term benefit of end users of engine fuel products.

Estimates Vote 2019/20 2020/21 2021/22 2022/23 2023/24 Capital
Vol.1 Business, Science and Innovation - 0.500 - - - -

Maintaining Credible Deterrence of Misconduct In Financial Markets Through an Increase to the Financial Markets Authority's Litigation Fund

This initiative will provide additional funding for the Financial Markets Authority's (FMA's) Litigation Fund. As there is a new regulatory regime for financial advisors coming into force in June 2020, there will be an increased demand on the Litigation Fund owing to a larger licensed advisor sector. Furthermore, the costs of undertaking litigation and legal fees have risen, while technology has made proceedings more complex and increased data management costs. Adequate resources are required to provide credible deterrence and for the FMA to fulfil legislative responsibilities and increased expectations.

Estimates Vote 2019/20 2020/21 2021/22 2022/23 2023/24 Capital
Vol.1 Business, Science
and Innovation
- 3.000 3.000 3.000 3.000 -

Maintaining the Emergency Caller Location Information (ECLI) Service

This initiative provides funding for the Emergency Caller Location Information (ECLI) service, which enables emergency call-takers to receive automatically generated geographical information about the location of a 111 caller from any mobile phone. ECLI is an integral part of New Zealand's emergency services system, leading to faster emergency call handling and response times through better incident information.

Estimates Vote 2019/20 2020/21 2021/22 2022/23 2023/24 Capital
Vol.1 Business, Science
and Innovation
- 12.390 - - - 2.800

Nationally Significant Collections and Databases

This initiative responds to increased pressures on Nationally Significant Collections and Databases (NSCDs) owing to greater demand for services and price increases owing to inflation, changing technology and increased pressure on infrastructure as collections and datasets grow. The additional funding will ensure sustained access to NSCDs to support excellent and impactful research. It will also support existing NSCDs to continue to provide the current level of service, while MBIE completes policy work to determine whether the existing cohort funded through NSCDs is the most appropriate for the current research environment.

Estimates Vote 2019/20 2020/21 2021/22 2022/23 2023/24 Capital
Vol.1 Business, Science
and Innovation
- 3.000 3.000 3.000 3.000 -

Ongoing Operation of the New Zealand Screen Production Grant - International

This initiative provides funding for the ongoing operation of the New Zealand Screen Production Grant - International. This grant is a rebate on expenditure undertaken in New Zealand, subject to specific criteria. The fiscal cost of the grant fluctuates in response to the level of international screen production activity. Growing global demand for screen content, coupled with the favourable reputation as a screen production destination, is leading to rising levels of production activity in New Zealand. The current level of funding has proven to be insufficient to meet this growth in activity. This initiative will provide additional funding to cover the anticipated call on the grant in the final year of the Multi-Year Appropriation.

Estimates Vote 2019/20 2020/21 2021/22 2022/23 2023/24 Capital
Vol.1 Business, Science
and Innovation
6.000 140.000 - - - -

Property Functional Leadership

This initiative will provide additional resourcing for the Government Property Group. The scale of projects and opportunities across the government property portfolio, both in the major cities and regions, is driving the need for effective portfolio management and governance, supported by quality information, greater assurance that projects are being managed appropriately and the development of greater capability across the government property system.

Estimates Vote 2019/20 2020/21 2021/22 2022/23 2023/24 Capital
Vol.1 Business, Science
and Innovation
- 3.447 3.447 3.447 3.447 -

Provincial Growth Fund: Investment in Skills and Infrastructure

This initiative funds priority investments to support regional economic development, taking a 'hub and spoke' investment approach. The ‘hub' investment will address the remedial infrastructure and skills needs of the regions. Other investments can be seen as ‘spokes' that are enabled by these fundamental investments in infrastructure and skills. Priority areas for investment are employment, skills and capability; digital connectivity; water storage; and land transport.

Estimates Vote 2019/20 2020/21 2021/22 2022/23 2023/24 Capital
Vol. 1 Business, Science
and Innovation
- 143.242 143.242 143.242 143.242 -

Strengthening the Impact of the Commerce Commission

This initiative provides additional baseline funding for the Commerce Commission (the Commission). The rapid expansion in the Commission's regulatory responsibilities has coincided with increased demand and changing Government expectations, culminating in cost pressures that cannot be met within existing baselines. Through a mix of Crown funding and industry levies, this initiative will strengthen the Commission's ability to: support the wellbeing of all New Zealanders during and in the recovery following the COVID-19 pandemic; rebuild the economy over the longer term; deliver additional market studies; better understand and influence consumer outcomes; remain active as an enforcer; increase confidence in markets; and ensure that the Commission remains sustainable and resilient.

Estimates Vote 2019/20 2020/21 2021/22 2022/23 2023/24 Capital
Vol.1 Business, Science
and Innovation
- 7.034 9.774 11.126 13.907 -

Support for Decarbonisation in the State Sector Through Funding assistance to Deliver Low Emissions Energy Investments

This initiative delivers funding and implementation assistance to enable agencies in the State sector, including hospitals and schools, to deliver low emissions investments without the need to divert existing funding from core service delivery.

Estimates Vote 2019/20 2020/21 2021/22 2022/23 2023/24 Capital
Vol.1 Business, Science
and Innovation
- 3.840 4.330 5.150 6.800 -
Vol. 2 Education 1.325 1.752 2.944 3.861 - -

Sustaining Core Scientific Research Capability for Specific Strategic Science Investment Fund Platforms

This initiative increases Strategic Science Investment Fund Platforms programme funding for Crown research institutes (CRIs) with the most pressing cost pressures, ensuring New Zealand retains the scientific expertise and capability needed to address key economic, social and environmental challenges facing the country. The long-term funding for CRIs has remained constant for 13 years. The declining value of funding in real terms has created significant financial pressure on institutes and, in some cases, threatened the sustainability of essential scientific services and expertise. This initiative is partially offset by reprioritisation within baselines.

Estimates Vote 2019/20 2020/21 2021/22 2022/23 2023/24 Capital
Vol.1 Business, Science
and Innovation
- 15.000 15.000 15.000 15.000 -

The Institute of Environmental Science and Research Kenepuru Property Redevelopment

This initiative provides funding to the Institute of Environmental Science And Research to support the redevelopment of its facilities at its Kenepuru Science Centre (KSC) in Wellington. These facilities are a mix of laboratories, research support spaces and office accommodation. Health, forensics, environmental, data science and commercial functions are conducted at the KSC.

Estimates Vote 2019/20 2020/21 2021/22 2022/23 2023/24 Capital
N/A Not yet appropriated - - - - - 25.000

Transitional Funding for the Continued Provision of Mail Services from New Zealand Post

This initiative supports New Zealand Post to maintain the social benefits associated with mail services, such as connectivity and civic engagement and to address a revenue gap so that New Zealand Post's postal delivery service obligations may be maintained. Funding is over a transitional period of three years to allow users and senders more time to manage a transition away from mail reliance.

Estimates Vote 2019/20 2020/21 2021/22 2022/23 2023/24 Capital
Vol.1 Business, Science
and Innovation
- 29.800 41.200 58.900 - -
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