News Releases

REF NO.: 102

SUBJECT: Federal budget good news for Memorial
DATE: March 7, 2003

The federal budget announced in February has many Canadian universities excited at the prospect of receiving new funds for research efforts. Some of the highlights of the budget include the establishment of a permanent fund of $225 million a year for the indirect costs of research, improved funding for research granting agencies, programs for research infrastructure and new researchers, a new program of graduate scholarships and increased research funding to encourage students to undertake masters and doctoral studies, and increased funding for university research through the three federal research funding agencies.

"While delighted by all of these commitments, I am particularly pleased about the allocation of additional funds for graduate scholarships", said Memorial University President Dr. Axel Meisen. "There will be 2,000 at the masters level valued at $17,500 per year and 2,000 at the doctoral level valued at $35,000 per year. Sixty percent of the scholarships will be directed to the social sciences and humanities.

We, at Memorial University, have been advocating the changes and I am delighted that our efforts have been successful. I congratulate the government for its continued commitment to research in all of its forms."

"The permanent fund for indirect costs is a significant achievement by the federal government to ensure future competitiveness", said Dr. Christopher Loomis, vice-president (Research and International Relations).

As well, the increased support to the funding councils will help Memorial's researchers continue their efforts and develop new initiatives.

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