Thank you for those questions. My answer will address three specific points.
The first part of your question dealt with the Government of Canada's science and technology policy, which we announced several weeks ago. You are right that we need to promote science, technology and innovation in Canada. That is the reason why we launched a new strategy, which has been well received by the various stakeholders, both by entrepreneurs and by the research and academic communities.
That policy is now on a solid footing because we have set funding priorities for research in the environmental sector, which is important to all Canadians, in the health sector, in the natural resources sector and several others as well. Thus we have targeted research in Canada to ensure that it jibes with what Canadians want and with their priorities in the different industry sectors. We wanted to ensure that this basic research could continue to develop and be of practical use to entrepreneurs and business people in Canada. Our policy is intended to ensure that the research comes out of the labs and flows to the entrepreneurs' drafting tables, so that it can ultimately be translated into commercial products to be sold all across the planet.
So, we have launched this new policy and I can tell you that during the summer, we will continue our discussions with the stakeholders, and with entrepreneurs, to ensure that it is well understood, and that they are aware of our government's priorities.
With respect to the manufacturing sector, which you referred to in the second part of your question, I would first like to commend you, in the Bloc Québécois, for supporting our last budget, unlike the Liberal Party and the NDP, who did not support our budget. We have delivered the goods with respect to manufacturing, as a unanimous report was released here by all members—by the NDP, the Liberals and the Conservatives—with respect to the challenges the manufacturing sector is currently facing and some possible solutions. Those solutions were brought forward by this government in the last budget, and that is why I believe congratulations are in order. You acted on the basis of your convictions as a party, unlike some of our other colleagues.
Having said that, the policy being what it is, the important thing for us is to promote the manufacturing sector, and that is what we have done. One of the major recommendations the Committee made was for an accelerated capital cost allowance for new investments in equipment and production assets. We did that over a two-year period, as the Committee and the manufacturing industry had suggested.
Why is this an important measure? Because it allows the industry to amortize equipment over a shorter period and, thus, have better cash flow, thereby allowing companies to invest in and purchase modern equipment in order to remain competitive. As you know, that initiative has received very strong support from Perrin Beatty, who represents Canadian Manufacturers and Exporters. He told us that we are a government that listens to the manufacturing industry and takes the necessary action. So, this has meant that this industry will now be receiving the support it requires.
Is the manufacturing industry doing well in Canada? No. It is a fact that the manufacturing industry here is facing challenges. In your report, you identified one of those challenges, which is the very high Canadian dollar, which results in…