Announcement of $182 Million in Funding for the Canada Foundation for Innovation

Speaking Points

The Honourable Gary Goodyear, PC, MP
Minister of State (Science and Technology)

Montréal, Quebec
August 6, 2010

Check Against Delivery

Thank you for the kind introduction.

It is a pleasure for me to be with you here at McGill University, and it is a pleasure for me to welcome the new President and CEO of the Canada Foundation for Innovation (CFI), Dr. Gilles G. Patry. As a former President and Vice-Chancellor of the University of Ottawa, Dr. Patry is well aware of the importance of Leaders Opportunity Fund (LOF) funding to Canadian universities.

Our government has made significant job-creating investments in upgrading and renewing facilities and labs for the students of today and tomorrow. These include the McIntyre Medical Building and the Otto Maass Chemistry Building here at McGill. I am pleased to see work is progressing well on campus.

Last month, Canada experienced a setback in the steady job growth our economy has shown since June.

These numbers remind us that despite our 6.1-percent rise in gross domestic product in the first quarter of this year, economic recovery remains fragile.

Through key measures — job creation, employment, economic growth, prudent regulation of our financial institutions, stability of our mortgage industry and relative debt — Canada is performing better than the United States and other G7 countries. In fact, the Organisation for Economic Co-operation and Development (OECD) forecasted a positive landscape for Canada. Canada's economy grew 6.1 percent in the first quarter, well ahead of the 1.9 percent overall growth for the G7 nations.

The OECD predicts that Canada's second-quarter growth will be about 4.5 percent, nearly double the growth expected by the combined G7 countries.

But still many Canadians are looking for work. We need to keep helping those who need it. And we need to keep building the foundation for long-term job creation and economic growth.

We've seen economic growth in 10 of the past 12 months, and close to 400 000 new jobs have been created over the past year.

We sympathize with all those who have lost jobs. We have made sure Canadians who have lost their jobs have access to improved Employment Insurance benefits and skills training, should they need them.

This year's Leading the Way on Jobs and Growth budget implements year two of Canada's Economic Action Plan with a continued focus on helping Canadians find work, upgrade their skills and advance their careers.

Our plan also invests in research, science and innovation, and takes bold action to help Canadians access new markets around the world. We're positioning Canada to lead.

In the global economy, knowledge, research and innovation are at the heart of economic growth and success. As Prime Minister Stephen Harper said last month, "science powers commerce."

When Frederick Banting and Charles Best discovered insulin, it was not only good science, but also saved the lives of millions and fuelled the growth of the global pharmaceutical industry.

As you know, three years ago, Prime Minister Harper launched Canada's Science and Technology Strategy. Since that time, our government has backed up that strategy with real action.

We have increased support to Canada's research granting councils. We have invested in labs, research facilities and new equipment for researchers. We have invested in students and scholars through the Canada Graduate Scholarships program, through new internships and, of course, through the new Postdoctoral Fellowship Program.

In fact, just last year our government invested a record $10.7 billion in science and technology.

We are investing in science and technology to create jobs, strengthen the economy and improve the quality of life of Canadians.

We also want to develop, attract and retain the world's best researchers here at Canadian universities.

Clearly, we are making a difference. Canada is number one in the G7 for government support of higher education research and development.

I want to say to the researchers here today that your work is changing the lives of Canadians and people around the world for the better. Our government is proud of your efforts and of the difference that you make.

Our government believes that prosperity and growth depend on supporting science, innovation and the unyielding pursuit of knowledge. That is why I am here today.

I am pleased to announce that the Government of Canada will invest $182 million to provide researchers in Quebec and across Canada with the new facilities and equipment they need to pursue new knowledge, make new discoveries that will improve the lives of Canadians, and make our economy stronger. This investment in the CFI's LOF will also help develop, attract and retain the world's best scientific minds here at Canadian universities.

For example, last year the CFI reported that the availability of state-of-the-art research infrastructure in Canada has led to 4675 academic, public and private sector jobs.

Why invest in research infrastructure? Because applied research facilities provide researchers, faculty, students and local and regional industry partners with the tools they need to succeed.

Investment in state-of-the-art labs and equipment enhances Canada's position in key areas of research, ranging from the environment to health, information and communications technology, natural resources and energy.

This allows researchers to compete with the best from around the world and positions Canada in the global, knowledge-based economy.

Thank you again to McGill University — I look forward to continuing our work together to sustain Canada's place in the global economy.