Trent Welcomes $1 Billion in Federal Budget Support for Deferred Maintenance and Capital Investments
FOR IMMEDIATE RELEASE
Tuesday, May 2, 2006, Peterborough
Trent University praised the federal government for measures contained in today's budget to invest $1 billion to provide infrastructure funding for deferred maintenance and capital investments for Canada's postsecondary education sector.
The government proposes the $1 billion Post Secondary Infrastructure Trust will be available for "critical and urgent infrastructure" in colleges and universities. Based on a per capita distribution of the funding, Ontario will receive approximately $390 million for post secondary education.
"The funding announced in today's budget will aid in addressing Trent University's deferred maintenance liability and capital projects," said Bonnie Patterson, President and Vice-Chancellor. "These funds will assist to make important improvements in the learning environment for our students and add to their quality experience while studying at Trent."
President Patterson adds that a survey of universities' infrastructure confirmed that the average age for buildings on Ontario's campuses is 30 years. "The issue of deferred maintenance is a chronic issue that requires some redress. The federal infrastructure investment is a good start for the new government."
Together with the Council of Ontario Universities, Trent University is encouraging the Government of Ontario to give full consideration to creating a similar investment plan to address deferred maintenance for its universities. Trent receives $438,000 annually from the $40 million funding allocated by the province to address deferred maintenance needs: the University's current deferred maintenance liability now exceeds $15 million.
Some of the additional measures contained in the federal budget include support for students:
The 2006 budget provided an additional $100 million per year to support research and development:
The budget document also stated that, "Over the coming year, the Minister of Industry will be developing a science and technology strategy, in collaboration with the Minister of Finance, that will encompass the broad range of government support for research, including knowledge infrastructure. The Government will also undertake a review of the accountability and value for money of the granting councils' activities."
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