The People shall fund basic research with the goal of improving the quality of their lives and that of future generations. The People will set the budgets, determining how much to invest, and where to invest it.
Rather than being determined by politicians, who frequently don’t understand the science and may have a vested interest in seeking approval for projects that will benefit the districts they represent rather than The People as a whole, The People will vote on the total budget and the allocation for each research area. Yes, this will probably mean that there will be far less money for expensive supercolliders and manned exploration of space and far more for research on aging and weight control. But if that’s what The People want, that’s what they should get.