Prime Minister Stephen Harper: Research And Development

Canada Dept: With an estimated deficit of $33.3 billion and a promise from the government to balance the budget by 2014, here are eight elements to watch for in today's budget. 1. Old Age Security, according to CBC. Harper also said in Davos that Canada has to change the way it invests in research and development. The government says Canada is one of the world's most generous with RaD funding, spending almost $12 billion a year, but the private sector isn't delivering results to match that investment. Minister of State for Science and Technology Gary Goodyear says the National Research Council, which now gets $700 million a year, could see major changes. A report last fall by business leader Tom Jenkins also said the complicated SRED tax credit system needs to be streamlined to make it easier to apply for funding. 3. Defence 's live coverage of Budget 2012 While Prime Minister Stephen Harper has made a habit of avoiding pre-budget leaks, he and his cabinet have made a point of telegraphing what to expect. Their mantra and what they believe is a key part of their success is that they tell voters what they'll do and then they do it. CHART Canada's deficits and surpluses from Pearson to Harper Comparing the country's financial figures from 1963-2010 Harper lit a firestorm in a speech he gave in front of an audience of international business leaders in Davos, Switzerland, in January when he said the Canadian government would be looking at making Canada's retirement income system sustainable . His staff were prepared with Finance Department numbers showing a bulge in costs as baby boomers hit age 65. Finance Minister Jim Flaherty is expected to use the budget to outline changes to OAS, possibly by raising the eligibility to 67 instead of 65, but the actual change won't come until several years after this budget. 2. Research and development (www.immigrantscanada.com). As reported in the news.