Rodney Hide

Wellington, May 20 NZPA - The Government's new Productivity Commission will be funded by reprioritising money from existing budgets of 29 government agencies, Regulatory Reform Minister Rodney Hide said.

The commission will have $2.4 million of funding in the 2010/2011 year, rising to $5m by 2012/13.

The commission, which will provide independent policy advice, will be set up early next year as part of the Act Party's confidence and supply agreement with the National Party.