President’s Response to Government of Canada’s 2024 Budget: Insights from the Office of the President

From the President’s Desk: Response to the Government of Canada’s 2024 Budget

“The Government of Canada just announced their Budget 2024: Fairness for Every Generation, and it’s making waves in the world of research funding. With a substantial boost of $1.8 billion over the next five years, including $748.3 million annually for Canada’s major research agencies, the future is looking bright for the post-secondary sector in our country. This injection of funding is not only good news for researchers but also for students and post-doctoral fellows who rely on these grants to fuel their groundbreaking work.

**A Win for Graduate Students and Post-Doctoral Fellows**

One highlight of the budget is the $825 million allocated over five years to increase the value of student scholarships. This includes raising the funding for master’s and doctoral students from $27,000 to $40,000 annually, and boosting post-doctoral fellowships to $70,000. Additionally, there is a $30 million investment to support Indigenous participation in research. These changes will have a real and positive impact on the lives of many students and fellows who depend on these scholarships for their livelihood.

**Major Investments in AI**

Another exciting aspect of Budget 2024 is the significant investments in Artificial Intelligence (AI). With $2.4 billion earmarked to help Canadian researchers and start-ups thrive both domestically and on the global stage, the future of AI in Canada looks promising. This includes a five-year investment of $200 million to support AI start-ups in bringing their innovations to market and expanding AI adoption in crucial sectors. For a university like U of A, which is a powerhouse in AI research, these investments will open up new opportunities and avenues for growth.

**Securing Canada’s Talent**

These funding increases are essential for Canada’s universities and researchers. By investing in research, Canada can combat brain drain and retain its talented individuals while also attracting new talent from around the world. Research grants and scholarships funded by the government will help nurture the next generation of skilled individuals, ultimately working towards a brighter future for all Canadians.

In a time where innovation and research are more critical than ever, Budget 2024 signals a strong commitment to building a better and more prosperous future for generations to come.”

**Bill Flanagan**
**President and Vice-Chancellor**



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