The federal budget brought good news for universities. An increased funding transfer to the provinces, new dollars for research, money to relocate the CANMET MTL lab to the McMaster Innovation Park, funding for a new CFI program, and graduate scholarships were all announced Monday by Finance Minister Jim Flaherty.

“Post-secondary education and research received a lot of attention in the budget,” says President Peter George. “The government understands the important contributions universities make to our prosperity and the need to commit resources to our continued growth and development.”

George says the post-secondary education transfer has the potential to help universities focus on maintaining and building quality.

“The early stages of the Canada Social Transfer in 2007/08 will help in the short-term and the commitment to a dedicated post-secondary transfer beginning in 2008/09 is a tremendous step forward. We look forward to working with both the federal and provincial governments to make sure these funds achieve their intended goals.”

Research also received significant support in the budget. The $510 million for Canada Foundation for Innovation, increased funding for the granting councils, new opportunities to expand the Centres for Excellence, and $35 million for graduate scholarships will all contribute to a stronger and more vital research program at McMaster and at universities across the country.

“We are particularly pleased with the federal budget commitment to the relocation of the CANMET MTL Lab to the McMaster Innovation Park,” says George. “We have been making steady progress but it was great to see the project highlighted in the budget with a $6 million dollar commitment. The relocation is a critical component of the Park's development and will bring new partners and opportunities to MIP and greater Hamilton and the federal government's support is a welcome signal that we are on track.”

“We'll also be looking forward to the federal government's Science and Technology Strategy paper that should be released shortly and will be actively pursuing the new opportunities it will present to McMaster researchers.”