The 20th century, now drawing to a close, will go down in history as a period of technological change. Discoveries earlier this century were built on by subsequent innovation, resulting in accelerating change. These discoveries have transformed the work and lifestyles of Canadians in ways unimaginable to our counterparts a century ago. As we prepare for the next century, innovation will be essential to our continued productivity and competitiveness, which in turn leads to job creation and economic growth, and a better quality of life. Because Canada is a trading nation, exporting 30 per cent of its production, it is even more important that Canadian businesses develop new technologies and exploit their commercial potential on global markets.

In a period of limited government resources, the Liberal government wants to maximize the return on the $5.5 billion it currently invests in science and technology. Following cross-country public consultations on how to redefine the role of government in this sector, the Liberal government unveiled a new national science and technology strategy in March 1996. The strategy aims to create a partnership with the private sector to increase successful efforts in the development and bringing to market of advanced technology.

The new Technology Partnerships Canada is a key initiative of the strategy. The federal government will use this investment fund for joint financing with the private sector of leading-edge technologies with a high potential for fuelling job creation and economic growth. The emphasis will be on sectors showing the greatest promise, such as environmental technology, information technology, defence conversion, aerospace and biotechnology. Technology Partnerships Canada will invest $250 million annually in Canadian projects. All money invested through the fund will be repayable.

The strategy also includes new guidelines to help federal government departments get more mileage out of their science and technology investments. For example, the guidelines call for more partnerships with provinces, universities and the private sector, with a focus on pollution prevention and sustainable development. As well, federal departments and agencies working in science and technology will report to Cabinet yearly, making clear both the results and the costs of their work in this area.

Expanded access to the information highway will help Canadians be more competitive, innovative and productive. Two initiatives are already in action: SchoolNet will link Canada's 16,800 schools and 3,400 libraries to the information highway by 1998, and Community Access will connect 1,500 rural communities. A new initiative, the Connect with a Student program, will give 2,000 computer students summer work experience linking 50,000 small and medium-sized businesses to the Internet, over the next three years. Strategis, an Internet database launched in March 1996, will provide Canadian businesses with access to information on markets, new technology, and available goods and services.