Mr. Speaker, I will be splitting my time with my good friend the member for Fort McMurray—Athabasca.
I am pleased to speak to today's motion because it allows me a chance to talk about what Canada's Conservative government is doing to support a more competitive and productive economy through investments in new technologies, research and development.
Countries that invest aggressively in innovation have the strongest and the most productive economies in the world. Countries that invest aggressively in innovation find solutions to environment, health and other pressing challenges. Simply put, countries that invest aggressively in innovation have high standards of living and a high quality of life.
Canada needs to take the steps now to ensure that we maintain a strong economy through scientific discovery and technological advances so we can seize the extraordinary potential of our great country to be a positive force in the world. This is why on May 17 the Prime Minister released our historic science and technology strategy.
Our approach to science and technology is underlined by four important principles.
First, our policies and programs will inspire and assist Canadians to perform at world-class levels of scientific and technological excellence. World-class research excellence is Canada's standard.
Second, we will strategically target funding in areas of national strength and opportunity. Let me be clear. That does not mean abandoning our commitment to basic research across a broad spectrum of disciplines. We understand the importance of supporting the very best ideas wherever they arise. At the same time we must be practical. Canada is a comparatively small country and we must target more of our basic and applied research in areas where we are well positioned to make a difference in the world.
Third, the Government of Canada will foster partnerships. Partnerships involving business, academic and public sectors at home and abroad are essential to lever Canada's efforts into world-class successes and accelerate the pace of discovery and innovation. Through partnerships, the unique capabilities, interests and resources of various stakeholders can be brought together to deliver better outcomes.
After 13 years of Liberal corruption and waste, this Conservative government has turned over a new leaf of accountability. Therefore, accountability is the fourth principle of the S and T strategy. We have been clear. Those who are supported by public funds will be held accountable for demonstrating to taxpayers that results are being achieved.
Guided by these principles, our science and technology strategy seeks to create three distinct Canadian advantages: first, an entrepreneurial advantage that encourages firms to be innovators; second, a knowledge advantage that keeps Canadians at the forefront of research and discovery; and third, is a people advantage that helps Canadians acquire the skills they need to participate in the knowledge based economy.
Despite the Liberal's rhetoric, the Conservative government has invested more than $9 billion annually to support science and technology. On top of that, there are tax incentives available to Canadian businesses that invest in research and development valued at $3 billion a year. It was the leaderless Liberals who voted against more than $11 billion a year in R and D investment.
The government's S and T strategy articulates a comprehensive vision of how the government can use the work of its departments, its expenditures and its policies to create a more productive and competitive economy. It sets out a multi-year agenda, and we are moving quickly to implement this agenda.
Budget 2007 announced $1.9 billion in new S and T initiatives. These initiatives will empower scientists to investigate and entrepreneurs to innovate. To repeat, it was the leaderless Liberals who voted against this measure.
To create an entrepreneurial advantage, we need effective federal policies and laws that encourage companies to compete on the basis of innovation and invest in R and D and innovation. The most important role of the Government of Canada is to ensure a competitive marketplace and create an investment climate that encourages the private sector to compete against the world on the basis of its innovative products, services and technologies.
Our S and T strategy does this with ongoing reductions in corporate taxes, by establishing the lowest rate of tax on new business investment through smart regulation and by increasing the supply of foreign venture capital to support Canada's most innovative firms, measures the leaderless Liberals voted against.
My colleagues, the Minister of Finance and the Minister of National Revenue, are leading the review of the $3 billion a year SR and ED tax expenditure in support of business R and D to identify opportunities to increase its impact.
Furthermore, this Conservative government appointed Red Wilson to lead a blue chip review of Canada's competition and investment policies to ensure that they are working effectively, allowing us to encourage even greater foreign investment and create more and better jobs for Canadians.
We are helping companies partner with universities and colleges to access the research networks, facilities and young research talent they need to succeed. Our new centres of excellence in commercialization and research program will help build critical mass in priority areas.
Our new business led networks of centres of excellence program will connect inspiring entrepreneurs and researchers. I know this will bring out the very best that Canadians have to offer the world.
As I mentioned, our S and T strategy also seeks to sustain a knowledge advantage. Our budget 2007 commitments will sustain Canada's leadership position in the G-7 and public sector R and D performance.
On top of the $2.7 billion the Government of Canada already funds in university R and D, we are investing an additional $85 million a year in three federal granting councils to achieve world-class excellence in four priority research areas: natural resources and energy; environmental sciences and technologies; health and life sciences; and information and communications technologies.
We are also ensuring that Canadian researchers continue to have the best research equipment and facilities available through a $510 million additional investment in the Canada Foundation for Innovation.
We are investing an additional $100 million in Genome Canada and $500 million in Sustainable Development Technology Canada to keep Canadians at the forefront in these important areas.
The third advantage this S and T strategy encourages is a people advantage. Access to talented, skilled and creative people lies at the heart of our vision of building a sustainable national competitive advantage based on science and technology. We will make sure that Canada has the highly skilled people it needs to thrive in a modern global economy.
We are creating new scholarships and industrial internships to support promising young Canadians who are studying hard to develop the skills that our businesses need. Once fully operational, we will be supporting 1,000 new scholarships and 1,000 new interns each and every year. At the same time, we will continue to reduce personal income taxes and make the tax system fairer, so that Canada can attract and retain the highly skilled workers we need to foster innovation and growth.
Science and technology is at the heart of this Conservative government's economic plan. The Conservative government's S and T strategy is a multi-year innovation plan. I can assure all members that our work will improve our nation. We will continue to build a competitive advantage for Canada based on science and technology. We will continue to be guided by the principles of excellence, priorities, partnerships and accountability.
This Conservative government is getting the job done to ensure that Canada can seize its potential in the world and be an innovation leader.
On behalf of the people of Oshawa, I am so pleased to be part of this S and T strategy. We are taking advantage of it now in our manufacturing sector and in our universities. I encourage all members to support us.