MINISTER(S) RESPONSIBLE FOR APPROPRIATIONS: Minister for Economic Development (M25), Minister for Small Business (M62)
ADMINISTERING DEPARTMENT: Ministry of Economic Development
MINISTER RESPONSIBLE FOR MINISTRY OF ECONOMIC DEVELOPMENT: Minister for Economic Development
Overview of the Vote#
The Minister for Economic Development is responsible for appropriations in the Vote for the 2012/13 financial year covering the following:
- a total of just over $22 million for policy advice on economic, industry and regional development policies, services to support the Minister, monitoring the performance and compliance of Crown entities and initiatives to promote sustainable economic development and issues related to small and medium enterprises
- a total of just over $144 million for New Zealand Trade and Enterprise operating expenses
- a total of just under $36 million for New Zealand Trade and Enterprise cash grant schemes
- a total of just under $77 million for other services related to firms and industry
- a total of $12 million for capital expenditure in the Ministry of Economic Development, and
- a total of just over $20 million for capital investments in the early stage equity finance markets and offshore market development assistance to business.
Details of these appropriations are set out in Parts 2-6 for Vote Economic Development in the Information Supporting the Estimates of Appropriations.
Details of Appropriations#
Details of Annual and Permanent Appropriations
| 2011/12 | 2012/13 | ||
|---|---|---|---|
| Titles and Scopes of Appropriations by Appropriation Type | Budgeted $000 |
Estimated Actual $000 |
Budget $000 |
Departmental Output Expenses |
|||
Enhancing Small Business Capability and Performance (M62)This appropriation is limited to development of operational policies to lift the capability and performance of Small to Medium Enterprises and services to support the Minister. |
- | - | 221 |
Policy Advice - Sectoral Leadership and Development, Firm Capability, and Regional Development (M25)This appropriation is limited to the provision of advice (including second opinion advice and contributions to policy advice led by other agencies) to support decision-making by Ministers on government policy matters relating to policy areas of development, evaluation and overview of economic, industry and regional development policies and initiatives to achieve short and long term economic growth and stability, and improving and leading the public sector procurement policy. |
- | - | 9,096 |
Policy Advice - Small Business (M62)This appropriation is limited to the provision of advice (including second opinion advice and contributions to policy advice led by other agencies) to support decision-making by Ministers on government policy matters relating to areas of development, coordination and implementation of policies and programmes that affect Small to Medium Enterprises. |
1,609 | 1,419 | 1,285 |
Sectoral Leadership, Firm Capability, and Regional Development Operational Policy, Ministerial Servicing and Crown Entity Monitoring (M25)This appropriation is limited to development of operational policies to achieve short and long term economic growth and stability, services to support the Minister, monitoring the performance and compliance of Crown Entities, administering grants programmes, providing support for statutory bodies and improving and leading the public sector procurement practises. |
- | - | 11,470 |
Policy Advice and Sector Leadership - Firm Capability, Sectoral and Regional Development (M25)This appropriation is limited to the purchase of policy advice, ministerial servicing and programme management for the development, evaluation and overview of economic, industry and regional development policies and initiatives to achieve short and long term economic growth and stability, and improving and leading the public sector procurement policy and practises. |
25,664 | 25,664 | - |
Total Departmental Output Expenses |
27,273 | 27,083 | 22,072 |
Non-Departmental Output Expenses |
|||
International Business Growth Services (M25)This appropriation is limited to helping firms export and internationalise by identifying and exploiting market and investment opportunities; overcoming internationalisation barriers; providing customised advice and support; and enabling access to international business networks. |
105,108 | 101,656 | 99,702 |
Investment Fund Management (M25)Operational costs of the Venture Investment and Seed Co-investment Funds. |
2,330 | 2,330 | 2,330 |
Services to Develop Business Capability (M25)This appropriation is limited to building and enhancing business and management capability through providing access to effective assessment, advice, training, mentoring and information. |
15,005 | 11,705 | 14,905 |
Services to Support Sector Development and Special Events (M25)This appropriation is limited to securing and capitalising on significant economic development opportunities for New Zealand, with a focus on sectors and special events. |
32,924 | 31,093 | 29,666 |
Rugby World Cup (M25)This appropriation is limited to performance of the functions relating to the Rugby World Cup Authority. |
1,114 | - | - |
Total Non-Departmental Output Expenses |
156,481 | 146,784 | 146,603 |
Non-Departmental Other Expenses |
|||
Canterbury Earthquake Recovery - Business Support (M25)This appropriation is limited to providing support for the recovery of businesses affected by the Canterbury Earthquake. |
1,950 | 1,950 | 1,000 |
Depreciation on Auckland's Queens Wharf (M25)This appropriation is limited to depreciation expenses associated with Auckland's Queens Wharf. |
2,000 | 2,000 | 2,000 |
Depreciation on the temporary Rugby World Cup showcase and festival building on Auckland's Queens Wharf (M25)This appropriation is limited to depreciation expenses associated with the temporary Rugby World Cup showcase and festival building on Auckland's Queens Wharf. |
4,900 | 4,900 | 4,900 |
Establishment and operation of the Food Innovation Network New Zealand (M25)This appropriation is limited to the establishment and operation of the Food Innovation Network New Zealand. |
6,447 | 4,000 | 950 |
Film New Zealand (M25)Operation of an independent structure for Film NZ, development of a marketing plan for the film sector and coordination of regional film offices. |
1,133 | 1,133 | 1,133 |
International Growth Fund (M25)This appropriation is limited to support for high growth firms to undertake additional market development and business capability activities required for growth in new markets, that deliver benefits for both the firm and the wider New Zealand economy. |
25,834 | 25,834 | 30,027 |
Large Budget Screen Production Fund (M25)Assistance to film and television productions that spend over $15 million in New Zealand. |
106,660 | 91,660 | 50,556 |
Major Events Development Fund (M25)Support for major events that provide economic, social, cultural and international profiling benefits to New Zealand. |
18,331 | 13,529 | 10,000 |
Management Development Fund (M25)Assistance to address the management capability gap in New Zealand, through the commissioning of research, stimulation of business interest and supply of management development services. |
223 | 223 | 756 |
Regional and Industry Development Fund (M25)This appropriation is limited to the provision of funding to support industry and regional specific projects that are intended to contribute to economic growth. |
3,900 | 3,900 | 200 |
Regional Partnerships and Facilitation (M25)Provision of advice and grants to support the development of business incubators and regional clusters, and to support regional partnerships to develop and implement sustainable economic growth strategies. |
4,556 | 4,556 | 4,556 |
Sector Strategies and Facilitation (M25)Assistance with the facilitation of specific sector initiatives, particularly in the areas of major events, pre-feasibility and feasibility studies and guarantees for significant projects to access funding through other government programmes and cash grants. |
1,204 | 1,204 | 1,204 |
Square Kilometre Array (M25)This appropriation is limited to supporting New Zealand's contribution to the joint bid with Australia to host the Square Kilometre Array. |
864 | 864 | 3,150 |
Promotion of New Zealand Associated with the America's Cup (M25)This appropriation is limited to meeting costs associated with the proposed sponsorship of Team New Zealand's participation in the next multi-challenger America's Cup. |
19,750 | 19,750 | - |
Rugby World Cup Free-to-Air Broadcasting Right (M25)This appropriation is limited to meeting the government contribution to the joint bid by the Maori Television Service, Television New Zealand and Mediaworks for the Rugby World Cup free-to-air broadcasting right. |
960 | 960 | - |
Total Non-Departmental Other Expenses |
198,712 | 176,463 | 110,432 |
Departmental Capital Expenditure |
|||
Ministry of Economic Development - Capital Expenditure PLA (M25)This appropriation is limited to the purchase or development of assets by and for the use of the Ministry of Economic Development, as authorised by section 24(1) of the Public Finance Act 1989. |
17,250 | 8,985 | 12,000 |
Total Departmental Capital Expenditure |
17,250 | 8,985 | 12,000 |
Non-Departmental Capital Expenditure |
|||
New Zealand Trade and Enterprise (M25)To increase NZTE's in-market assistance for New Zealand firms in China, India and Japan. |
3,619 | - | 172 |
Seed Co-investment Fund (M25)Support the development of the market for early stage equity finance. |
20,830 | 4,681 | 7,600 |
Venture Investment Fund (M25)Capital Investment to accelerate the development of the New Zealand Venture Capital Market. Public funds will be co-invested with the private sector to increase the rate of formation of new businesses based on high added value goods and services. |
16,513 | 13,674 | 12,400 |
Temporary Rugby World Cup showcase and festival building on Auckland's Queens Wharf (M25)This appropriation is limited to the construction and removal of a temporary Rugby World Cup showcase and festival building on Auckland's Queens Wharf. |
1,800 | 1,800 | - |
Total Non-Departmental Capital Expenditure |
42,762 | 20,155 | 20,172 |
Total Annual and Permanent Appropriations |
442,478 | 379,470 | 311,279 |
Details of Multi-Year Appropriations#
| Type, Title, Scope and Period of Appropriations | Appropriation, Adjustments and Use | $000 |
|---|---|---|
Non-Departmental Other Expenses |
||
Rugby World Cup Leverage and Legacy Programmes (M25)This appropriation is limited to the provision of Rugby World Cup leverage and legacy programmes (both offshore and onshore). Commences: 1 July 2010 Expires: 30 June 2012 |
Original Appropriation | 11,250 |
| Adjustments for 2010/11 | 1,000 | |
| Adjustments to 2011/12 | - | |
| Adjusted Appropriation | 12,250 | |
| Actual to 2010/11 Year End | 4,549 | |
| Estimated Actual for 2011/12 | 7,701 | |
| Estimated Actual for 2012/13 | - | |
| Estimated Appropriation Remaining | - | |
Transformational Initiatives Fund (M25)Funding for the implementation of policy on transformational initiatives as agreed by Cabinet. Commences: 1 March 2009 Expires: 30 June 2013 |
Original Appropriation | 9,766 |
| Adjustments for 2010/11 | (2,980) | |
| Adjustments to 2011/12 | (3,786) | |
| Adjusted Appropriation | 3,000 | |
| Actual to 2010/11 Year End | - | |
| Estimated Actual for 2011/12 | 3,000 | |
| Estimated Actual for 2012/13 | - | |
| Estimated Appropriation Remaining | - |
Details of Projected Movements in Departmental
Net Assets#
Ministry of Economic Development
| Details of Net Asset Schedule | 2011/12 Estimated Actual $000 |
2012/13 Projected $000 |
Explanation of Projected Movements in 2012/13 |
|---|---|---|---|
| Opening Balance | 28,959 | 31,526 | |
| Capital Injections | 13,241 | 2,000 | Petroleum Action Plan |
| Capital Withdrawals | (6,494) | - | |
| Surplus to be Retained (Deficit Incurred) | (12,586) | (3,200) | Memo Account Deficit |
| Other Movements | 8,406 | - | |
Closing Balance |
31,526 | 30,326 |