Highlights of 2015 Canada Federal Budget

on April 24, 2015
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On April 21, federal Finance Minister Joe Oliver tabled the Government of Canada’s 2015 Budget in the House of Commons with the first balanced budget since 2007 and presented a projected surplus of $1.4 billion in 2015-16.

The government has decided to focus on several key areas affecting students and post-secondary education:

  • Committing to an additional $119 million investment over four years to provide support to roughly 92,000 students
  • Renewing the mandate of the Mental Health Commission of Canada for another 10 years
  • Committing $65 million to help create partnerships between employers and post-secondary institutions, thereby improving employability of students upon graduation
  • Allocating $56.4 million over four years for new resources in support of graduate-level industrial research and development internships through Mitac’s Accelerated program and increasing the number of internships by 1,500 per year
  • Providing $9 million in Indirect Costs of Research
  • Announcing support of Aboriginal Labour Market Programming that primarily focuses on skilled trades and other high-demand sectors with $249 million from 2015 to 2020
  • Announcing full in-study income exemption for Canada Student Loans
  • Expanding grants to short-term programs, which will increase support for student grants by $184 million over five years
  • Harmonizing apprenticeship training and certification requirements in targeted red seals trades, plus $1 million in blue seals, thereby promoting mobility of training across jurisdictions, as well as credential recognition and opportunities
  • Renewing commitment to the granting councils, and this means an increase of $47 million in total funding, including $5 million for college and community innovation programs
  • Investing in leading edge research infrastructure by providing a $1.33 billion funding over six years to the Canadian Foundation for Innovation; this includes $100 million for digital infrastructure and $105 million for high-speed networking
  • Implementing a Labour Market Indicator (LMI) Portal to improve collection and dissemination of data
  • Developing labour codes for interns (in federally regulated workplaces) to provide interns with a safe work environment, free from either physical danger or harassment

For more information, please read the Government of Canada’s 2015 Federal Budget

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Highlights of 2015 Canada Federal Budget