Hon Dr MEGAN WOODS (Minister of Research, Science and Innovation): I am pleased to report that the research and development loan scheme has been almost fully subscribed. Nearly 450 applications from businesses engaging in R & D in New Zealand have been approved. The $150 million scheme was established to support those innovative and R & D intensive companies that were likely to reduce or withdraw altogether their R & D spending in the face of the economic challenges brought on by COVID-19. Applications to date indicate R & D spend of $369 million will be supported through this scheme. As a Government, we are committed to supporting our best and brightest minds, particularly as we rebuild the economy in response to COVID-19, and the success of this scheme to date has shown that New Zealand remains a great place to do R & D. 