Mr. Speaker, it is interesting to follow up on that comment from the parliamentary secretary, because my understanding is that the granting councils have been cut by $148 million.
I would like to come back to some of the remarks she made about Genome Canada, a creation of a previous Liberal government. I think she was referring to the notion of some kind of approach to innovation in Canada, but it is important for her and for Canadians watching tonight to understand that there really is no innovation strategy left in Canada. There is no innovation strategy whatsoever.
Let me highlight what is going on in this region right here. In 2000, Ottawa-Gatineau, as a cluster area, was receiving 61% of the venture capital in Canada. It had just under 5,000 high-tech companies. We are now down below 2,000 high-tech companies. Venture capital is fleeing not only this region but all of Canada because the government is not investing in general science or in general research.
Recently I met with the head of a stem cell research institute in my riding that is affiliated with the Ottawa Hospital. The individual told me that not only is the funding being cut, but now the folks who are doing the advanced research are saying that the system of peer review that must be in place in order to have a fair and transparent bidding process for granting has been dismantled and that it is now based on political factors, on held ridings—