Liberal Announcement on Education

Liberals announce education platform Analysis to follow...

Liberal support for students and research will build 21st-century economy

LONDON – A new Liberal government will significantly increase support for students and increase investments to support research to help more Canadians succeed in the 21st-century knowledge economy, Liberal Leader Stéphane Dion announced today.

“We have to increase support for students to make sure university and college is accessible to all Canadians. The future productivity and economic success of Canada depends on the investments we make in research and development today,” said Mr. Dion.

To that end, a new Liberal government will make post-secondary education more accessible by:

• simplifying support measures for students by replacing complicated and often irrelevant tax credits that don’t benefit students with an education grant that will be delivered four times a year, putting money in the hands of students when they need it most;

• providing 200,000 needs-based bursaries of up to $3,500 per year by the fourth year of our plan to help reduce the number of Canadians for whom cost remains an insurmountable barrier to education;

• providing 100,000 access grants of up to $4,000 per year by the fourth year of our plan for those who are members of groups that are traditionally under-represented in post-secondary education;

• ensuring that every student is eligible for a $5,000 student loan regardless of parental income; and

• guaranteeing a lower interest rate for all student loans, extending the grace period on repayment post graduation from six months to two years, making that grace period interest-free and extending the time that individuals have to repay their student loans.

“Innovation, new ideas and processes are key components of productivity and ultimately, future economic growth. The direct and indirect funds we invest in research and development today will drive the economy of the future,” said Mr. Dion. “It is also important to support projects that reach beyond the barriers of their discipline.”

A new Liberal government will increase research and development support by:

• increasing support for the indirect costs of university-based research by more than 60 per cent to $500 million a year;

• enhancing support for Canada’s three granting councils by 34 per cent;

• creating an Interdisciplinary Sustainability Fund of $100 million to enable scientists, researchers and graduate students to undertake projects that extend beyond the barrier of their disciplines; and

• extending the tax credit for private sector research and development so that even companies who are not currently making a profit will have an incentive to invest in research and development.

“Support for learning has been a long-standing Liberal value and under a new Liberal government we will make the investments in the post-secondary education and research needed to ensure Canada can compete in the 21st century,” said Mr. Dion.