Mr. Speaker, I congratulate the Minister of Finance. The 1998 budget will provide increased funding of more than $400 million over the next three years to the granting councils which provide crucial support for our Canadian researchers, university professors and post-graduate students. By 2001 these budgets will be at their highest level ever in Canadian history.
All Canadians will benefit directly from this initiative. This increased investment in basic funded research to the Social Sciences and Humanities Research Council, the Natural Sciences and Engineering Research Council, and the Medical Research Council illustrates our government's serious commitment to transforming Canada into a strong knowledge based economy now and into the new millennium.
Yesterday Dr. Paul Davenport, the chairman of the Association of Universities and Colleges of Canada stated “The increased investment in research will help generate growth and jobs, create new products and processes and improve our ability to compete globally. This budget provides an excellent start if Canada is to close the research gap with its international competitors”.
Now Canadian researchers, the best and brightest, can realize their dreams and fulfil their promise right here at home in Canada.