According to: http://www.sshrc-crsh.gc.ca/site/winnin ... s_2008.xls approximately 61% of applications that were forwarded by the home institution (A List) were successful in the doctoral fellowship competition. The same information doesn't seem to exist for master's level fellowships, but from my understanding it is markedly higher.
I don't get the impression that funding will be affected this year, as the money has likely already been set aside for SSHRC 2009-2010 in previous budgets. However, future years may be affected. For example, there was a petition started by an NDP MP because Harper had a line in his budget asking that