If you fund less science, you will favor older researchers (that cost more) because they are the ones thay can produce more and have inertia from previous research project, and they know how to game the system. Thats a big issue with the NIH (in US) that they are trying desperately to solve. Unfortunately, they also often favor and give too much weight to old researchers in their grant panels and they tend to favor (not always consciously) people that think like them.