EDITORIAL PAGE (September 30, 1991)

American Barrick Resources Chairman Peter Munk stands to make $36.6 million when he sells two million shares he bought earlier this year through stock options granted in 1987. Munk will likely take a lot of flak over his reward.

But it is the market, not American Barrick, that is paying Munk this windfall There will be share dilution — two million new shares on the market are bound to have an effect. But Munk only does well because shareholders have also done well.

We doubt shareholders will argue with that.

The federal government’s deficit swelled to $9.6 billion during the first quarter of fiscal 1992, foreshadowing an annual deficit that will be well above expectations. In the battle against the national debt, government employees are expected to take a wage freeze this year, funding for some social programs is in jeopardy and federal-provincial relations are under strain while Ottawa tries to get its spending under control. The federal government is attempting to enlist the entire country into an effort at belt-tightening.

Yet this same government has the gall to announce it will find at least $236 million in “new money” to pay toward construction of the KAON particle generator, a scientific research facility to be housed at the University of British Columbia in Vancouver. This facility is expected to cost $1.3 billion for construction and another $563 million to operate for four years after it is built, but it’s a safe bet that actual costs will balloon far beyond today’s estimate.

So, while others are being asked to make sacrifices, taxpayers are offering to pay $1.9 billion for what is essentially a big piece of laboratory equipment.

Those who are well indoctrinated into the esoteric world of scientific research will quickly tell you that the KAON particle accelerator is a tool used for leading-edge research in physics. The elaborate structure is used for the study of sub-atomic-sized particles called kaons. By accelerating them to almost the speed of light, scientists are able to investigate the basic structure of matter. The research is leading-edge, but it is not unique. There are similar facilities in the world conducting similar research. While the KAON project may be worthwhile from a scientific research point of view, many Canadian scientists have argued against construction of the facility. Proceeding with KAON will suck up so much money it will jeopardize funding for every other worthwhile research project. And even if money was plentiful, is this the type of scientific research that will give Canada the biggest bang for its buck?

These objections can’t be discounted as sour grapes from jealous colleagues within the notoriously competitive scientific community. They come from credible scientific bodies. The National Research Council, The Science Council of Canada and the National Advisory Board on Science and Technology have all unanimously recommended against the project.

Lest those who object to pouring billions into KAON may be branded as scientific philistines, it should be made clear that arguing against this project is not to argue against scientific research. The question is, should this be the type of project on which Canada spends its scarce research money? Funding for this facility comes at a time when universities are facing a funding crunch and first-year students are finding it difficult to get sufficient access to laboratory facilities.

Canada has to find ways to channel more money into scientific research and development, but throwing money into questionable scientific megaprojects like KAON is not the way to go.