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Once again New Zealand’s innovation ranking has dropped under this Government, despite it claiming to be committed to building a more innovative economy, National’s Research, Science and Innovation spokesperson Parmjeet Parmar says.

“Once again New Zealand has dropped in the recent annual Bloomberg Innovation Index ranking, dropping five spots to number 29. Under the current Government our ranking has dropped three years in a row.

“This latest drop of five points is the largest fall in all 60 countries reported by Bloomberg, and paints a very depressing picture of New Zealand’s ability to innovate.

“Innovation is not only declining but struggling under a Government that has overseen the lowest levels of business confidence in a decade.

“New Zealand was ranked 28th on Bloomberg’s Index in 2013. The previous National Government created Callaghan Innovation to help lift our performance, which it did and within two years our ranking improved to 18.

“New Zealand has had some great innovators and we need more of them to add value to our exports of goods and services and to improve our standard of living.

“As a country New Zealand should back itself in its ability to add more capacity to innovate and add value to what we’re good at, and to find new things to excel at.

“The Government should be focusing on improving our innovation ranking. If it doesn’t it will end up making it harder for innovative businesses to attract investment and will risk the loss of innovative work in New Zealand.”

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