TORONTO, March 22, 2016 /CNW/ - "The federal government has signaled in the 2016 Budget its belief that investing in students and research and innovation is key to well-being and prosperity in today's and tomorrow's knowledge-based economy.
Ontario universities thank Prime Minister Trudeau and Finance Minister Morneau for an economic plan that draws on the power of a university-educated population to help build a strong, revitalized economy for all Canadians.
Our graduates and their ability to innovate, along with the world-class university research they conduct, is a valuable resource in helping build stronger communities and a stronger Canada.
The new $2-billion Postsecondary Institutions Strategic Investment Fund will provide critical funding to enhance and modernize our research and commercialization facilities.
The additional $95 million annual boost for Canada's research granting councils recognizes the fundamental role of research in an innovative society. That investment will keep top talent at Ontario's universities, where they will carry out the innovative research that is so vital to the health, prosperity and quality of life of all Canadians.
Enhancing the Canada Student Loans Program will make postsecondary education more affordable and open up new opportunities for those from low-income families, and ensure graduates can manage debt as they transition into the workforce.
University students will also benefit from the work of the new Postsecondary Industry Partnership and Co-operative Placement Initiative to expand work-integrated learning.
We thank Minister Morneau also for investing in education for Canada's Indigenous Peoples. Indigenous learners are achieving greater success for themselves, their families and their communities at Ontario universities in increasing numbers, and it is our hope that more Indigenous youth will see the benefit of higher education if they are given more opportunities in primary and secondary schools.
The 2016 Federal Budget recognizes the value to Canada of strong postsecondary institutions, and Ontario universities are working to ensure their graduates are leading contributors to a strong economy."
President and CEO
Council of Ontario Universities
COU is the voice of Ontario's universities, promoting the value of education, research and innovation that leads to social, cultural and economic success.
SOURCE Council of Ontario Universities
For further information: Wendy McCann, Director, Strategic Communications and Media Relations, 416-979-2165 ext. 233, 647-271-0825 (Cell), [email protected]