U of T welcomes federal budget's investments in research and innovation
The University of Toronto is welcoming measures in Tuesday鈥檚 federal budget that boost research programs and support a new generation of talent across Canada, strengthening the country鈥檚 innovation ecosystem and knowledge economy.
, announced by Chrystia Freeland, Canada鈥檚 deputy prime minister and finance minister, allocates more than $3 billion in investments in Canada鈥檚 research ecosystem over the next five years.
This includes increases to the tri-council funding agency budgets, additional support for master鈥檚 and PhD students and post-doctoral fellows, and more money for major research infrastructure projects 鈥 a clear recognition that universities are drivers of economic growth and can find solutions to the challenges facing Canada and the world.
鈥淭oday鈥檚 budget is a very significant and welcome recognition of the critical role the research ecosystem plays in driving Canada鈥檚 productivity and prosperity,鈥 said U of T President Meric Gertler.
鈥淚t builds on this government鈥檚 earlier investments in research and innovation, and helps secure Canada鈥檚 global competitiveness for future generations.鈥
The budget鈥檚 key elements for the post-secondary sector include an increase of 30 per cent, across five years, in Canada鈥檚 three research funding agencies: the Social Sciences and Humanities Research Council of Canada (SSHRC), the Natural Sciences and Engineering Research Council of Canada (NSERC) and the Canadian Institutes of Health Research (CIHR).
The budget also invests $825 million in support of master鈥檚 and PhD students and post-doctoral fellows, boosting the value of these scholarships and fellowships significantly, and adding a further 1,720 students or fellows each year.
鈥淚n the knowledge economy, the global market for ... ideas is highly competitive and we need to make sure talented people have the right incentives to do their groundbreaking research here in Canada,鈥 the budget document states.
In addition, the budget lays out a plan for the creation of an advisory Council on Science and Innovation, which will be tasked with setting priorities and boosting the impact of federal investments in science and innovation. And it proposes the creation of a new capstone research funding organization to optimize the impact of the federally funded research councils.
The budget also earmarks $2.4 billion, , to consolidate Canada鈥檚 competitive edge in AI 鈥 a field where U of T researchers are playing a leading role.
The measures come as post-secondary institutions in Ontario grapple with a challenging financial environment and follows growing calls across Canada for reinvestment in research and innovation.
, which has urged the federal government to increase support for research to enhance Canada鈥檚 competitiveness as a destination for top talent and accelerate Canadian researchers鈥 efforts in tackling pressing national and global challenges.
鈥淐anada has many strengths in this new strategic race, including unparalleled access to talent, an increasingly successful commercialization pipeline from researchers to business, and a federal government focused on developing the industries of tomorrow,鈥 Leah Cowen, U of T鈥檚 vice-president, research and innovation, and strategic initiatives, noted in .
In October, the coalition 鈥 whose members include post-secondary institutions as well as research hospitals, life sciences companies, charities, students and early-career researchers 鈥 released calling for 鈥渁mbitious reinvestment鈥 to support Canada鈥檚 research and innovation ecosystem amid an increasingly competitive global landscape and rising societal and economic challenges.