"By slashing funding for science the government is making it harder for New Zealand to climb out of the recession," says Public Service Association national secretary Richard Wagstaff.

The government has dumped the previous government's Fast Forward Fund in which $700 million of public money was to be invested in research and development of New Zealand's pastoral and food industries that provide the backbone of our economy.

The $700 million was to have been invested over 10 to 15 years, with industries expected to provide matching contributions.

The government scrapped the $700 million Fast Forward Fund and the Dominion Post reports today that Agriculture Minister David Carter has indicated that it will be replaced by an investment of $90 million over three years.

"It's very short-sighted to be slashing research funding for pastoral and food industries that earns billions of dollars a year in exports for New Zealand," says Richard Wagstaff.

"Pastoral farming generates 35% of our exports and is worth more than $10 billion a year."

"The research investment, that was to be provided by the Fast Forward Fund, was exactly what we need if we're to climb out of the recession and strengthen our economy for the future."

"Government's overseas are making this sort of investment with President Obama investing hundreds of billions of dollars to develop clean energy sources and create green jobs."

It's this sort of vision that New Zealand needs and that our Government should be providing when it delivers its first Budget next week," says Richard Wagstaff.

The PSA has 2500 members working at eight state-owned Crown Research Institutes.

Each CRI provides research for a productive sector of the economy such as the pastoral and food industries.