Mr. speaker, I hope before the end of this month to be able to announce the funding formula that will be used in order to allocate the research chairs.
I would like to point out to the hon. member what a significant difference this program is going to make to Canadian universities: 2,000 research chairs across Canada, $900 million. That is the equivalent of creating two virtual MITs in Canada. This will make Canada competitive in the 21st century.