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Panel recommendations on research and development fall short: CME

Published by Derek Lothian on November 28, 2011

Proposed changes to federal programs supporting research and development would weaken investment and could potentially hamper Canada's ability to innovate and compete on the world stage, according to Canadian Manufacturers & Exporters (CME).

In its official response, released today, to the Expert Panel Report on Federal Support to Research and Development, also known as the Jenkins Report, CME noted serious concerns with several of its recommendations – particularly those that would restrict eligibility and reduce funding for the scientific research and development (SR&ED) tax credit.

"The SR&ED tax credit is one of the most important instruments the government has to encourage companies to innovate and grow," says CME President & CEO Jayson Myers. "But it is only one of the mechanisms available. It's unfortunate the panel did not address all the federal programs supporting research and development in its final submission."

While CME commends the panel for its work surrounding strategic procurement and commercialization vouchers, many in the private sector feel it was a missed opportunity to evaluate and improve funding models for academic and government research.

"The fundamental issue is how we create greater economic benefit from the $14 billion currently being spent in academic and public research initiatives," explains Myers. "Other countries have found effective means of transferring technology to businesses where it can be successfully commercialized. Canada's model must follow suit."

To read CME's entire response to the Jenkins Panel, please visit: http://bit.ly/JenkinsPanel.

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