Mr. Speaker, the government understands the importance of providing support for scientific discovery and has provided more than $11 billion dollars since 2006, in new resources for basic and applied research, talent development, research infrastructure, and innovative activities in the private sector. We have more effectively aligned federal research support with business needs.
Economic action plan 2014 is a continuation of this narrative. It is one of maintaining our economic strength and adding new support for research and innovation. The creation of the Canada first research excellence fund in the budget is evidence of this, with $1.5 billion in funding over the next decade to help Canadian post-secondary institutions excel globally.
We can boast of an enviable record, as Canada remains the G7 leader in research and development expenditures in the higher education sector as a share of the economy. Our government understands the importance of science, research, and innovation and is committed to supporting both basic and applied research.