The Trudeau administration has outlined a new Canadian budget that promises billion of dollars in additional investment in academic research and student aid, cheering institutions after a disappointing initial outline this winter.

The??for the 2024-25 cycle includes a?five-year gain of 30?per cent in?spending for the nation¡¯s three research funding agencies, plus a?C$1.1?billion (?640?million) hike in?interest-free student loans and grants.

It also provides a ¡°substantial increase in the value and number¡± of graduate scholarships and postdoctoral fellowships, and new funding for student mental healthcare,??Universities Canada, the nation¡¯s chief ÖйúAƬ grouping.

The Trudeau plan is designed to ¡°attract and increase investment, enhance productivity and encourage the kind of game-changing innovation that will create good-paying and meaningful jobs and keep Canada at the economic forefront¡±, the government said in?.

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After?bemoaning a lack of attention?to?their interests?in the November budget announcement, Canadian universities showered the Trudeau administration?with praise for this version.

¡°By prioritising research, scholarships and mental health, today¡¯s budget represents progress for students and university research across the country,¡± the Universities Canada president, Gabriel Miller, said in?.

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It returned Canada to ¡°the winning strategy that was launched in the late 1990s to prepare Canada for the new economy and society of the 21st century¡±, said Chad Gaffield, chief executive of U15 Canada, the country¡¯s top-tier grouping of research universities.

The president of the top-ranked Canadian institution, Meric Gertler at the University of Toronto,?, calling the Trudeau commitment ¡°a very significant and welcome recognition of the critical role the research ecosystem plays in driving Canada¡¯s productivity and prosperity¡±.

In terms of research areas, the Trudeau budget put a particular emphasis on its previously identified preference for the pursuit of expertise in artificial intelligence.

It also adds C$825 million to help master¡¯s and doctoral students, and postdoctoral fellows, raising the per-person value of their scholarships and fellowships, and expanding their numbers by more than 1,720 awards.

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The action marks the second time since 2018 that the prime minister, Justin Trudeau, has announced a large hike in research spending after?first commissioning an expert report affirming the need. The latest such analysis ¨C by a panel led by Fr¨¦d¨¦ric Bouchard, the dean of arts and sciences at the University of Montreal ¨C called last year for a 10 per cent annual increase over five years for the big three science funding councils.

The administration¡¯s lack of action in its previous budget plan, issued last November as the Bouchard recommendations were being made public, alarmed academic leaders, who questioned the federal government¡¯s understanding of the stakes. Professor Bouchard said at the time, however, that he remained optimistic that Mr Trudeau¡¯s advisers were working on ways that they could implement his panel¡¯s ideas.

paul.basken@timeshighereducation.com