Thank you, Mr. Chair, for that question.
Yes, this is a very significant new initiative, providing $1.5 billion over the next 10 years to address the desire of Canadian universities and colleges to really move to the next level in terms of international competitiveness.
The budget announced a series of parameters, or criteria, that the ultimate program design is to meet, and Minister Rickford is now beginning work on the finer elements of the design of the program.
The critical elements here are that it will be allocated on a competitive basis; it is open to all post-secondary institutions, universities, and colleges; and it is to have an impact on areas of economic importance. We've already begun discussions with some of the main university groups, but within those parameters and with the idea that this is to have a major impact on the presence of Canadian post-secondary institutions on the world stage. Those are the parameters that Minister Rickford and officials will be working with.