Madam Speaker, I will be splitting my time with the Parliamentary Secretary to the Minister of Industry and the hon. member for Burlington.
I am very proud to stand here today as the hon. member for Cambridge, North Dumfries and as Minister of State (Science and Technology) (Federal Economic Development Agency for Southern Ontario) to outline new investments in the science and technology sector that underscore the government's solid continued commitment to developing Canada's economy of tomorrow. Even as we continues to face challenging economic times, our government recognizes that Canada's future prosperity depends on our collective capacity to innovate and compete.
Science and technology creates jobs, improves the quality of life of Canadians and people around the world and it strengthens our economy for future generations. There can be no doubt that the government has a long-standing, unparalleled, extremely strong commitment to science and technology.
We realized and released our science and technology strategy mobilizing science and technology to Canada's advantage in 2007. In every federal budget since that time, including this year, the Conservative government has increased science and technology investment.
Science and technology investments included in the budget 2010 economic action plan, phase two, build upon the more than new $7 billion in science and technology funding that the government pledged in budgets in 2006, 2007, 2008 and, of course, as part of Canada's 2009 economic action plan.
This year, 2009-10, our government's annual budget will reach a record $10.7 billion for science and technology.
As members can see, we have increased funding for Canada's research granting councils since 2005 budgets by more than 20%. No country in the G7, including the United States, is better at supporting higher education research and development as a percentage of GDP than Canada.
I want to take a few moments to think through and read how budget 2010 builds on our science and technology strategy. With the current budget, we continue to demonstrate our commitment to build a talent advantage in science and technology through support for the best educated and most skilled workforce on the planet. This budget will increase the federal granting councils' combined annual budgets by $32 million per year. We will also add $8 million per year, as we have been requested to do by the universities, to the indirect costs of research programs to help Canadian universities, colleges and research hospitals absorb the additional activity resulting from the increases to our granting councils' budgets.
Budget 2010 will also provide another $45 million to the granting councils to establish a flagship Canada post-doctoral fellowship program that will retain and attract global research talent and leaders to Canada. When fully implemented, this new program will annually fund about 140 new two-year post-doctoral fellowships valued at $70,000 each per year, which is, by all accounts, the most attractive post-doctoral program in the world. This program builds on our support for Canada graduate scholarships, for the Canadian apprenticeship program and for the Vanier graduate scholarships to cover the full spectrum of support for the development of high quality research talent.
Budget 2010 also offers increased support to strengthen our knowledge advantage in specific areas of advanced science and technology, including: $222 million in funding over five years to support research and commercialization activities at TRIUMF, Canada's premier laboratory for nuclear and particle physics; $75 million to Genome Canada to allow it to launch a new research competition and sustain funding for the regional genomics innovation centres; and 45 million new dollars over two years for research and development relating to medical isotopes.
Budget 2010 also takes steps to strengthen Canada's entrepreneurial advantage, to encourage greater private sector performance in research, development and innovation. This is crucial to build Canada's economy of tomorrow. Our private sector must now adopt these initiatives and drive innovation, and we will compete. We will win in the new global economy.
We are the first federal government to recognize the value so significantly in colleges. Given the important role that colleges play in enhancing innovation in Canada, we have doubled the annual budget of the college and community innovation program by providing an additional $15 million per year to support additional research collaborations between businesses and colleges. This follows last year's incredibly successful investment in the CIP and the massive boost to the CFI's budget.
Further, our government provides $40 million over two years for small-sized and medium-sized enterprises through the innovation commercialization program, a pilot initiative through which federal departments and agencies will adopt and demonstrate the use of innovative prototype products and technologies developed by our small-sized and medium-sized businesses.
The budget goes on to support innovation in many other ways, by renewing and making ongoing $48 million in annual funding for the regional development agencies to support local innovation all across Canada.
Budget 2010 further provides $397 million over five years to the Canadian Space Agency to develop the RADARSAT constellation mission, the next generation, the leading generation of technology in the world of advanced radar remote sat sensing devices.
This type of critical investment builds on our ability to protect Canada and remain at the forefront of advanced technology in space and support our government's policies in the Arctic.
Finally, budget 2010 provides $135 million over two years to the National Research Council's regional innovation clusters, plus $8 million over two years to extend the international science and technology partnerships program, again to promote collaborative research and development activities with our international partners.
Our government continues to demonstrate an unparalleled and unprecedented strong commitment to our science and tech community to make Canada a world leader in science, technology and innovation. To suggest otherwise is to not have done the research.
I look forward to working with my parliamentary colleagues and all Canadians to create the economy of tomorrow in which Canada can realize its vast potential as a world leader in science, technology and innovation.
In closing, over the last few months I have had the opportunity to conduct many roundtables all across southern Ontario, consulting with business leaders, municipal leaders, community leaders, scientists and researchers, and on, on how best to conduct phase two of our economic action plan.
In my own riding of Cambridge and North Dumfries, I have received dozens of emails, letters and phone calls, and through my website even more information. I want to thank everyone who took the time to submit and share their thoughts with me. This has been very helpful in the development of the throne speech and the budget. It is very heartwarming to see so many ideas show up in this budget.