York University President & Vice-Chancellor Mamdouh Shoukri welcomed the Government of Canada’s commitments in Tuesday’s budget to create a special fund to invest in research infrastructure projects at universities, to increase funding for granting councils and to make postsecondary education more affordable for students.
In presenting his first federal budget, Finance Minister Bill Morneau announced the government will invest up to $2 billion over three years for new university infrastructure projects. This new funding will enhance and modernize research facilities on Canadian campuses.
Further, the University applauded the federal government’s enhanced investment in the federal granting councils and a research support fund. The investment of an additional $95 million per year recognizes the fundamental role of investigator-led discovery research in an innovative society.
Lastly, the University is also pleased that the federal government has committed to increase the Canada Student Grant amount by 50 per cent. This enhanced grant will provide greater support for low and middle-income students. Further, the introduction of a flat-rate student contribution to determine eligibility for Canada Student Loans and Grants will make it easier for students to work and gain valuable labour market experience without having to worry about a reduction in their level of financial assistance.
“Today’s budget is a strong signal that the Canadian government recognizes the importance of investing in university research and infrastructure, enhancing accessibility and supporting students as key to building up the Canadian economy,” said Shoukri in a statement after yesterday’s budget. “We are pleased that the federal government has recognized that the prosperity and the future of Canada require that we are able to attract and retain talented people, boost innovation and build a sustainable economy. Investments in our students, our research and our infrastructure are critical to future generations and to a more innovative Canada.”