The University of Toronto is welcoming measures in Tuesday’s federal budget that will strengthen research programs across Canada, support a new generation of talent and strengthen the country’s innovation ecosystem and knowledge economy.
The Spring 2024 Budget has been announced. Chrystia FreelandCanada’s Deputy Prime Minister and Minister of Finance will allocate more than $3 billion to invest in Canada’s research ecosystem over the next five years.
This includes increasing the budgets of the Tri-Council funding agencies, providing additional support for master’s and doctoral students and postdoctoral fellows, and providing additional funding for major research infrastructure projects. This is a clear recognition that universities are engines of economic growth and can find solutions to challenges. For Canada and the world.
“Today’s budget is a very important and welcome recognition of the critical role our research ecosystem plays in driving Canada’s productivity and prosperity,” said the U of T president. Merrick Gertler.
“This builds on the government’s previous investments in research and innovation and will help ensure Canada’s global competitiveness for generations to come.”
Key elements of the budget for the higher education sector include funding of 30% over five years for Canada’s three research funding agencies: the Social Sciences and Humanities Research Council of Canada (SSHRC), and the Natural Sciences and Engineering Research Council of Canada (SSHRC). Includes a percentage increase. Canada (NSERC) and Canadian Institutes of Health Research (CIHR).
The budget also invests $825 million in support of master’s, doctoral, and postdoctoral students, significantly increasing the value of these scholarships and fellowships and supporting an additional 1,720 students or fellows each year. has been added.
“In the knowledge economy, the global market for ideas is highly competitive and we need to ensure that talented people have the right incentives to conduct groundbreaking research here in Canada,” the budget states. Are listed.
Additionally, the budget includes plans to create an Advisory Council on Science and Innovation, which will be tasked with setting priorities and increasing the effectiveness of federal investments in science and innovation. It proposes the creation of a new capstone research funding organization to optimize the impact of federally funded research councils.
The budget also includes $2.4 billion to strengthen Canada’s competitiveness in AI, where U of T researchers are playing a leading role, as previously announced.
The move comes as Ontario’s higher education institutions grapple with a challenging financial environment and calls for reinvestment in research and innovation are growing across Canada.
U of T is a member of the Canadian Research Alliance, which strengthens Canada’s competitiveness as a destination for top talent and accelerates Canadian researchers’ engagement with pressing national and global challenges. , is asking the federal government to increase support for research.
“In this new strategic competition, Canada stands ready with unparalleled access to talent, an increasingly successful commercialization pipeline from researchers to companies, and a federal government focused on developing tomorrow’s industries.” It has many strengths such as: Leah CowenU of T Vice President, Research and Innovation, Strategic Initiatives, May 2023 Column hill times.
In October, the coalition (whose members include higher education institutions, as well as research hospitals, life sciences companies, philanthropic organizations, students and early career researchers) announced a new initiative to support Canada’s research and innovation ecosystem. He published an open letter calling for “ambitious reinvestment.” The global situation is becoming increasingly competitive and social and economic challenges are increasing.
