Released on March 19, 1998
Post-Secondary Education and Skills Training Minister Joanne Croffordhas announced that the government will strengthen its investment in
Saskatchewan students by additional funding of $18 million to
Saskatchewan universities. The increase includes $8.6 million in
operating funds and a $9 million increase in capital funds bringing
the total to $205 million.
"University revitalization continues to be a key investment in our
people and our future," Crofford said. "Our universities have
demonstrated their commitment to revitalization. We are supporting
them with the additional resources needed to continue these efforts.
"The $9 million increase in capital will enable our universities to
get on with the renewal of buildings and facilities."
In addition, a $1.5 million one-time payment will be made this year to
the University of Saskatchewan to assist with recent costs of
relocating students to other buildings.
"With the $8.6 million increase in operating funds, we look forward to
the universities joining us in ensuring access to a university
education."
Saskatchewan is also introducing a broad-based research and
development (R&D) strategy. Included is a 15 per cent
non-refundable Corporate Income Tax credit that will encourage
business to engage in Saskatchewan-based R & D. This will be of
significant interest to universities as tax credits may be earned
on R & D activity undertaken by third parties, including
universities.
A new Petroleum Research Incentive is also being introduced that
will provide a significant financial incentive for the
development of new extraction technologies affecting
Saskatchewan's oil and gas industries. It is expected that
universities could play an important role in undertaking
petroleum research. This incentive will also promote the creation
of a recognized center of expertise in petroleum research in
Saskatchewan.
"This is a clear commitment on our part to the continued role of
the universities in teaching, research and community services for
the people of Saskatchewan," Crofford said. "Students,
businesses and the community all benefit from this kind of
investment.
"At the same time as we are making improvements to the quality of
their learning environment, we are improving student financial
assistance and introducing a new provincial bursary program
targeted at high need students."
In total, the government has committed $434 million to
post-secondary education and skills training, an increase of $48
million over last year's budget.
-30-
For more information contact:
John Biss, University Services
Post-Secondary Education and Skills Training
Regina
Phone: (306)787-5900