The reintroduced federal budget tabled by Canadian finance minister Jim Flaherty Monday restated the investment in areas of education and training first brought forward in May.
The budget put forward prior to the May 2 election received a few updates by the Conservative government, but statements on support for postsecondary education, research and innovation punctuated the investments proposed earlier this year.
When it comes to education and training, the next phase of Canada’s Economic Action Plan includes:
- $34 million annually to enhance and expand eligibility for Canada Student Loans and Grants for part-time and full-time post-secondary students;
- $10 million over two years in tax relief and Registered Education Savings Plan assistance for Canadian post-secondary students studying abroad; and
- $10 million over two years to develop and implement an international education strategy that will reinforce Canada as a country of choice to study and conduct world-class research.
Building on past investments, the government plans to secure Canada’s position as a leader in research, innovation and technology adoption in the global knowledge economy.
The 2011 Budget sees a $37 million per year investment starting in 2011-12 in the three granting councils: Natural Sciences and Engineering Research Council of Canada (NSERC), the Canadian Institutes of Health Research (CIHR) and the Social Sciences and Humanities Research Council of Canada (SSHRC).
These funds will be allocated as follows:
- $15 million per year to NSERC to support outstanding research in the natural sciences and engineering fields, such as the Strategy for Partnerships and Innovation;
- $15 million per year to CIHR to support advanced health-related research, such as the Strategy on Patient-Oriented Research; and
- $7 million per year to SSHRC to support world-leading research in the social sciences and humanities, such as partnership activities in priority areas including the digital economy.
An additional $10 million per year has been added beginning in 2011-12 to support the indirect costs of research.
The 2011 budget invests $53.5 million over five years to support the creation of 10 new Canada Excellence Research Chairs.
Funds of up to $100 million will be set aside to help establish the Canada Brain Research Fund to support research in neuroscience and improving the health and quality of life for Canadians with brain disorders.
NSERC will be provided with $35 million over five years to fund climate change and atmospheric research at Canadian post-secondary institutions.
Click here to view more details about the 2011 Budget related to investments in innovation, education and training.