Revised financial plan carries a number of small changes
The revised federal budget for 2017 was outlined on March 22 and, while it carries few big-ticket changes, it also carries a number of noteworthy changes for university students.
According to Maclean’s magazine, the budget addresses salient concerns about the future labour market. It introduces measures to both improve skills amongst workers, including developing children’s digital skills and to encourage companies to be ready for a “fast-moving, high-tech global economy.”
Additionally, the budget increases eligibility for Canada Student Loans and Grants for part-time students, as well as Canada Student Grants for students with dependent children, which could help adult learners pursue postsecondary education.
The budget also expands who can qualify for the tuition tax credit to include any institution that provides additional skills when the student is over 16 years of age.This includes occupational skills courses that are not offered at a postsecondary level, which provides additional opportunities for individuals who are not looking to pursue a postsecondary degree or have already done so.
Other budget changes that will likely have an impact on university students include a two per cent increase on excise duty rates on alcohol products, a 2.5 per cent increase on excise duty rates on cigarettes, and a rise in the price of Uber rides as ride-sharing services are now charging GST/HST.
The budget also aims to improve relations and help close the socio-economic gap between First Nations and other Canadians. According to APTN, finance minister Bill Morneau said in his budget speech to the House of Commons that, “Together, we will build stronger, more resilient communities and renew our nation-to-nation relationship with First Nations, Inuit, and Métis.”
The budget includes investments in skills development and the improvement of living conditions on reserves.The University of Guelph and its officials are in support of the budget. In a campus bulletin on the University’s website, President Franco Vaccarino said, “We are delighted that the federal government is making knowledge and innovation a priority. The initiatives and changes outlined in the budget show that the Canadian government understands the importance of supporting education and research. Not only will these measures improve the learning experience for students, but they are also an investment in the future.”
In a separate news release on their website, the University of Guelph applauds the budget for investing in food and agriculture to grow Canada’s economy.
Guelph is well-known as Canada’s “food university” and for its large number of agricultural students. Vaccarino further praised the budget for “Committing $70 million to further support agricultural discovery, science and innovation, and for new funding to support the development and adoption of clean technology for agricultural production.”
Photo by CSIS PONI via CC BY NC SA 2.0.