The real cost of the NSERC peer review is less than 5% of a proposed baseline grant.

A recent publication in this journal (Gordon and Poulin, 2009) argues that the cost of the NSERC peer review exceeds the cost of giving every researcher a $30,000 baseline grant. However, the authors overestimated the ratio of peer review expenses to baseline grant cost by a factor of 26. The real cost of peer review is less than 5% of the baseline grant amount.