[Jack Lightstone - St. Catharines Standard]

When Finance Minister Jim Flaherty delivered his budget speech on Thursday, he signalled a new era of austerity in federal spending.

Faced with diminished tax revenues and a ballooning debt from the stimulus spending required to bolster a badly wounded economy -- both the result of a major economic recession -- announcements of new spending were understandably limited. Even with no massive cuts announced, just holding pat on most current spending will inevitably require serious belt tightening in all federal ministries.

Against this backdrop, what is heartening is Ottawa's commitment to research, innovation and the place of university researchers in building a stronger Canada. Of the limited new funds announced in the budget, a major proportion is dedicated to research and innovation.

The good work of universities and their researchers will benefit from budget increases for Canada's three major federal researching granting councils. As well, the fund that helps universities pay the institutional costs of supporting research (like heat and light in the labs) has been augmented proportionally to the additional dollars directed to the research councils.

While not all of these funding opportunities will be accessible to Brock researchers, given our specific fields of expertise and strength, Brock and its researchers should benefit from a number of them. For Brock, the re-commitment to fund the second and final year of the Knowledge Infrastructure Program is of particular importance, since the Niagara Health and Bioscience Research Complex, currently under construction, depends upon these funds.

But there is more in the budget to support Brock's mission than initially meets the eye. Brock is committed to mobilizing our intellectual capital in partnership with various sectors of our region to drive Niagara's economic, social and cultural development in what is obviously an era of major economic and social transition and renewal.

The budget announced several types of spending to support the commercialization of new discoveries and innovative ideas, and to help new small and medium-size enterprises in the knowledge economy. Many partners in our region, Brock among them, are working to knit together a unique network to capture innovative ideas and discoveries, and convert them into sustainable businesses here in Niagara. Nurturing such enterprises is the role of the business incubator that will be housed in the Niagara Health and Bioscience Research Complex; of nGen (the incubator for new enterprises in interactive digital media); of Niagara College's business development services; and the Vineland Research and Innovation Centre, to name just a few. In fact, 48 partners in our region are party to a virtual innovation centre being developed under the banner of Innovate Niagara, for which the initial trustee will be Walker Industries.

In addition to existing opportunities from FedDev Southern Ontario, new funding to support the commercialization of innovation -- creating new enterprises in the knowledge economy -- aligns well with the economic growth strategy of the NEDC and the Niagara Region, and the report of the Prosperity Council of the St. Catharines-Thorold Chamber of Commerce. We have only to act in consort and boldly to access this support that is on the table for us.

The federal government is entering into a period of significant restraint in spending. Understandably, little new spending was announced in Thursday's budget, and those who got new funding undoubtedly asked for more than they received. Overall, however, the budget disproportionately supports initiatives of importance to universities, to Brock and to Niagara's emerging knowledge economy.

Jack Lightstone is president and vice-chancellor of Brock University

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