Russell

I’ve got a few answers to your questions about New Zealand Fast Forward.

You asked about the companies involved. Some of our most important primary
sector companies have made a commitment. They include Fonterra, DairyNZ,
Meat and Wool NZ, the Meat Industry Association, Zespri and PGG
Wrightson. (I notice you have picked up a few of these in comments.) This
is just the start and there will be more commitments from other companies
in the sector.

Because the fund is a partnership, the specific areas of research will be
decided over time. It’s better anyway for experts than for politicians to
make decisions about research areas.

So when you ask about the most promising areas of research, I can give you
one example, (purely for illustration):

One priority might be looking for major gains in nutrient retention and
recycling, which would reduce the loss of nitrogen into the air and into
waterways. This would reduce greenhouse gas emissions from pastoral
farming, improve our ability to meet our climate change obligations and
improve water quality in the surrounding waterways. It would also reduce
costs to farmers, who would effectively only need to pay for fertiliser
once, yet be able to use it again and again.

Ownership of the intellectual property in the ‘killer products’ we want to
create is likely to vary depending on the nature of the project.

As for other industries, like forestry, there are a number of initiatives
with the forestry sector including the Forest Industry Development Agenda.
I’m working very closely with that sector. Significant amounts of money are
going into it separately. Over $300 million has been invested by the
Government in programmes to support the forestry industry over the last 8
years.

There are any number of important industries. You mentioned biomaterials. I
could add a few more to the list. There have been a lot of economic
development initiatives across all sorts of industries in recent years,
including biotechnology, telecommunications and industrial design. This
particular initiative focuses on the pastoral and food sectors because
these sectors already have global reach and are integral to our economic
prosperity. These sectors provide the best chance to transform our economy
in the next ten years.

Basic research is included in the scope of the fund. It is just one
element. Fast Forward is very comprehensive and covers the whole value
chain, including basic research. We know, for example, that there is
fundamental research needed around the rumen to ensure we increase animal
productivity and reduce methane emissions.

Finally, it’s an interesting point about the name. We never considered
calling it Russell. Perhaps next time. But you will be relieved to hear
that at least the government changed the name from the ‘Sustainable
Pastoral and Food Innovation Initiative.’

Hope that helps. Obviously I’m very excited about the fund, and I think it
offers a genuine chance to step up our innovation to the levels we need to
make a real difference in our economic prospects. You can read all the
details by clicking the NZ Fast Forward link at the beehive website,
www.beehive.govt.nz .

Regards.