LifeSciences British Columbia News
LifeSciences BC's Submission to Federal R&D Review Panel
March 7, 2011
LifeSciences BC, in conjunction with a number of other provincial groups, recently made a submission to a panel launched by the Federal Government which is reviewing all federal programs that provide support to business innovation. The six member panel will ultimately make recommendations on how to maximize the Government’s contribution to research, development and innovation, specifically focusing on the following Federal initiatives:
- Tax incentive programs such as SR&ED
- Programs that support business R&D such as IRAP or sector specific undertakings
- Granting councils and their role in supporting business focused R&D
The impetus for this review revolves around the fact that Canada continues to offer relatively high value tax incentives and direct support for business R&D as a percentage of GDP; however, Canada ranks 16th amongst OECD countries for business expenditures on R&D as a percentage of GDP. This was an opportunity for LifeSciences BC to provide our input and suggestions on behalf of the membership.
Please click here to view the submission.
