New budget will create urgently needed space for post-secondary students, say UOIT officials
May 3, 2006
With Ontario's fastest-growing university expected to reach over 4,000 students by September, additional learning spaces such as classrooms and labs top the university's priority list. The government's pledge of $1 billion will be transferred to the provinces through the Post-Secondary Education Infrastructure Trust and UOIT looks forward to learning the details.
"Yesterday's budget commitment to create more space for students will help provide the resources needed to educate the leaders of tomorrow," said Dr. Gary Polonsky, president of UOIT. "Through his pivotal, personal role in the creation of UOIT, Federal Finance Minister Jim Flaherty understands today's post-secondary needs and challenges."
An annual budget commitment of $100 million in research and development is also good news to UOIT faculty who receive grants from research bodies such as the Natural Science and Engineering Research Council of Canada which will be given an additional $17 million per year to fund innovative research at Canadian universities.
UOIT faculty welcomes news of a new science and technology strategy to be developed in collaboration with the Ministers of Industry and Finance. The strategy will include a broad range of government support for research, including knowledge infrastructure.
"We are delighted by the federal government's clear commitment to research and development. This will powerfully support universities in their efforts to make Canada more productive and more competitive in the world market," said Dr. Richard Marceau, provost at UOIT.
Additional post-secondary highlights of the budget include:
- a new tax credit for the cost of textbooks, which will provide a tax reduction of about $80 per year for a typical full-time post-secondary student. The new Textbook Tax Credit will benefit approximately 1.9 million Canadian students, at a cost of $260 million over two years;
- elimination of federal income tax on all income from scholarships, bursaries and fellowships; and
- expanded eligibility for Canada Student Loans through a reduction in the expected parental contribution, starting in August 2007 allowing an additional 30,000 students to gain access to this program, and about 25,000 current borrowers to increase their loan amounts.
About Ontario Tech University
A modern, forwarding-thinking university, Ontario Tech advances the discovery and application of knowledge to accelerate economic growth, regional development and social innovation. We inspire and equip our students and our graduates to make a positive impact in a tech-focused world. For us, it’s not only about developing the next tech breakthrough. Understanding and integrating the social and ethical implications of technology differentiates us as university. Learn more at ontariotechu.ca.
Media contact
Heather Middleton
Communications and Marketing
Ontario Tech University
905.721.3111 ext. 2197
heather.middleton@uoit.ca
