Post-secondary institutions still unprotected, largely excluded from Budget 2023
Ottawa, March 29, 2023 (GLOBE NEWSWIRE) -- The federal budget failed to make needed investments in post-secondary education or protect colleges and universities from corporate insolvency, says the Canadian Association of University Teachers (CAUT).
In its pre-budget submission, CAUT recommended the government invest in research and graduate student scholarships, increase transfers to the provinces to support affordable post-secondary education, and that public universities and colleges be excluded from the Companies' Creditors Arrangement Act (CCAA).
"Laurentian University did not need to resolve its financial difficulties through a restructuring process designed for private companies that paid millions to lawyers and consultants while slashing programs and staff," said Peter McInnis, president of CAUT. "We continue to call on the Liberals to make good on their 2021 election promise to exclude public universities and colleges from the CCAA."
As tuition fees and the cost of living continue to rise, CAUT had hoped this budget would have maintained the doubling of the Canada Student Grant introduced during the pandemic. Moreover, this budget provided no new operating funding nor investments in basic research.
"Education and research are key to helping Canadians meet present and future challenges, whether the climate emergency or public health crisis," said McInnis.
Budget highlights for post-secondary education
- Increasing Canada Student Grants by 40% in 2023-2024
- Raising the interest-free Canada Student Loan limit from $210 to $300 per week of study
- Waiving the requirement for mature students, aged 22 years or older, to undergo credit screening to qualify for federal student grants and loans for the first time
- $197.7 million in 2024-2025 to extend the Student Work Placement Program
- $108.6 million over three years, starting in 2023-2024, to expand the College and Community Innovation Program
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