In particular, we need to ensure that our regulatory framework does not close off developments in biotechnology, an area where we must surely have the potential to be world leaders.
This does not, of course, mean that there should be no restrictions whatsoever on experiments in this area, but it does mean that we should remember that every restriction has a cost as well as a potential benefit, and sometimes the cost can be very substantial. Do we need to go further, by providing positive incentives to undertake research and development in New Zealand?