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Two Ministry of Economic Development funds with ambiguous aims are being cancelled, with savings returned to the Government, Economic Development Minister Steven Joyce says.
The Government is focused on investment that supports the business growth agenda of building a more productive and competitive economy.
The Enterprising Partnerships Fund and the Transformational Initiatives Fund, set up by the previous government in 2007 and 2008, are being disestablished. This saves $26.1 million operating over the next four years.
- Steven Joyce
- Budget 2012
- Economic Development