Decline in government funding for science and technology to continue
TORONTO – The amount of government funding for science and technology in Canada is expected to decline for another year.
Statistics Canada estimates that federal spending for the 2013/2014 fiscal year will drop to $10.5 billion, down 3.3 per cent from 2012/2013.
Spending on research and development is expected to comprise around two-thirds ($6.8 billion) of total science and technology spending.
StatsCan defines research and development is as “creative work, undertaken in a systematic manner to increase the stock of knowledge.”
The remaining will be spent on things such as the gathering and processing of data, feasibility and policy studies, information services and museum services.
The amount of federal spending on science and technology in Canada has been on the decline since the 2010/2011 fiscal year.
Canada’s higher education institutions will continue to lead all other sectors in the amount of spending received from the federal government, at an estimated at $3.3 billion. The second largest beneficiary is the business enterprise sector, which is expected to receive $1.1 billion in funding.
StatsCan’s estimates come from what federal departments and agencies reported what they intend to spend.
© Shaw Media, 2013