Mr. Speaker, basic research is the starting point for applied research and commercialization activities and the fuel for innovation in Canada. It is of fundamental importance to the well-being of our economy, standard of living and quality of life.
In Canada our basic research system is founded on federal funding. The three federal granting councils, NRC, NSERC and SSHRC, are recipients of this funding. They have been charged with the responsibility of making Canada the leader in the knowledge based economy of the 21st century.
Contrary to the other G-7 nations, levels of funding for the councils have declined throughout this decade. This is having an immediate impact and does not bode well for the future. It is leading to a brain drain of our best and brightest researchers.
In light of the great importance of basic research in our economy, on behalf of my colleagues in the government caucus on post-secondary and research, I urge the Minister of Finance to address the situation in the upcoming budget. From his actions in the past and his desire to make Canada a leader—