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| Science and Technology Strategy Places Strong Focus on ICT and Commits to "Identify Ways to Improve SR&ED" |
May 18, 2007 |
WATERLOO, QC, May 18 /CNW Telbec/ - Yesterday, Prime Minister Harper outlined the key features of the Federal Government's much anticipated Science and Technology strategy. The strategy, "Mobilizing Science and Technology," provides a comprehensive roadmap and a set of measurable objectives designed to propel Canada into a leadership position in the knowledge-based economy.
Among the key measures announced yesterday is a commitment to "improve the Scientific Research and Experimental Development (SR&ED) program, including its administration, to further encourage R&D within the business sector in Canada." This is consistent with Conservative promises to improve SR&ED expressed as recently as the March 19 Budget. The strategy does not outline the process by which these improvements will be identified. ITAC has advocated the need for reforms to the SR&ED program for many years now. The SR&ED program's current structure means that many of Canada's leading private sector R&D investors receive no tax benefit from their investment. ITAC has argued that SR&ED reform is critical to improving Canada's performance in business investment in research and development. Canada is currently ranked 14th in the OECD for business expenditures on R&D as a percentage of GDP.
"The S&T strategy makes it crystal clear that Canada's lagging performance in business R&D and falling enrollment in science and technology disciplines are trends that are unacceptable and must be reversed," said Bernard Courtois, president and CEO of ITAC. "We have advocated the necessity of this course of action for many years now. To hear it expressed as a priority by the Prime Minister is welcome news indeed."
The strategy also marks the beginning of a more strategic course for Canada's public sector R&D investment. Acknowledging input from the recent report of the Council of Canadian Academies, which identified areas where Canada currently has science and technology strengths that can lead to economic and social advantage, the strategy will direct investment to build a critical mass of expertise in four priority areas, including information and communications technologies.
"This strategy is comprehensive and recognizes elements in the innovation ecosystem. This is an ecosystem that embraces students, PhDs, venture capitalists, patent lawyers and entrepreneurs and public policy makers and educators. The strategy reflects a sophisticated understanding of all the elements necessary to create a competitive position for Canada in the knowledge-based economy," Mr. Courtois said. "We're looking forward to lending the support of the ICT industry to its successful execution.
"The Information Technology Association of Canada (ITAC) is the voice of the Canadian information and communications technologies (ICT) industry in all sectors including telecommunications and Internet services, ICT consulting services, hardware, microelectronics, software and electronic content. ITAC's network of companies accounts for more than 70 per cent of the 589,000 jobs, $137.6 billion in revenue, $5.2 billion in R&D investment, $22.6 billion in exports and $11.5 billion in capital expenditures that the industry contributes annually to the Canadian economy.
For further information: Lynda Leonard, Senior Vice President, ITAC, (613) 238-2250 x223, leonard@itac.ca; Nicole Helsberg, Manager, Communications, ITAC, (905) 602-8345 x240, nhelsberg@itac.ca |
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