For Immediate Release
Fredericton, New Brunswick, April 11, 2022 – Federal Budget 2022, A Plan to Grow Our Economy and Make Life More Affordable, is a focused and strategic budget targeted in the support it provides to specific sectors and policy areas. The New Brunswick Health Research Foundation (NBHRF) and BioNB are pleased to see the federal budget supporting critical areas of health research while also creating a better investment environment for health and biosciences companies.
NBHRF and BioNB are in agreement with Research Canada: “While Research Canada was pleased with Budget 2022’s investment of $20 million over five years, starting in 2022-23, for the Canadian Institutes of Health Research to support additional research on the long-term effects of COVID-19 infections on Canadians and to ramp up efforts to learn more about dementia and brain health, the challenge remains the dearth of any new funding in fundamental science, without which we cannot innovate and grow our economy,” said Dr. Rose Goldstein, Chair of Research Canada and Professor of Medicine at McGill University. “Without fundamental science, we cannot lead globally and ultimately will be left behind.”
Fundamental science is the first step in growing our economy. As such, the NBHRF and BioNB develop key partnerships to support fundamental science through to business development. Such partnerships, like the one between NBHRF with the Centre for Aging and Brain Health Innovation (CABHI) continue to support New Brunswick as one of the leading provinces focusing on aging research. The NBHRF is delighted to see CABHI receiving $30 million over three years, starting in 2022-23 to help accelerate innovations in brain health and aging.
“New Brunswick is a leader in aging research and we are poised to advance systemic changes to research funding,” said Meaghan Seagrave, BioNB Executive Director and NBHRF Chief Executive Officer. “We are pleased to see alignment on supporting equity-deserving groups with $40.9 million being invested in supporting targeted scholarships and fellowships for Black student researchers and $275 million targeted towards improving health outcomes for indigenous communities.”
“Additionally the government is making investments supporting the advancement of self-determination and prosperity through the implementation of the United Nations Declaration on the Rights of Indigenous Peoples Act which aligns with the United Nations Convention on the Rights of the Child. Both are key areas of progress within research in New Brunswick,” Meaghan Seagrave added.
NBHRF and BioNB were also encouraged by Budget 2022’s commitment towards strengthening the research and development sector with an investment of $750 million, to support Canada’s Global Innovation Clusters, as well as its investment of $159.6 million to implement the National Security Guidelines for Research Partnerships.
NBHRF and BioNB look forward to continuing to work collaboratively with organizations within the research and development sector both within New Brunswick and across the country. With the investments in Budget 2022, there is a a unique opportunity for all sectors to focus efforts to protect and support the health and well-being of Canadians.