Issue
The economic footprint of post-secondary education has taken a dramatic hit through the pandemic along with the reductions of government funding. Access to education is essential in the economic recovery of Canada and its future access to human capital and intellectual development. Post secondary education serves as a catalyst for innovation, entrepreneurship, and strategic organization for both the management and advancement of social and economic progress.
Background
The economic impact of post-secondary education on our society and economy is a crucial factor in driving innovation, entrepreneurship, and social progress. However, the COVID-19 pandemic severely affected the economic footprint of post-secondary institutions, exacerbating the existing reduction in government funding. The repercussions of the pandemic, coupled with the ongoing reductions in funding, have created a challenging environment for post-secondary institutions to navigate. As a result, access to education has been hindered, compromising the economic recovery of our nation and threatening our future access to human capital and intellectual development.
Recommendations
That the Government of Canada:
- Increase Funding for Research:
a. Allocate additional federal funding specifically designated for research and development in post-secondary institutions.
b. Establish grant programs aimed at supporting innovative research projects and fostering interdisciplinary collaborations.
c. Enhance research infrastructure by providing grants for the acquisition of state-of-the-art equipment and facilities.
d. Facilitate partnerships between industry and post-secondary institutions to encourage industry-sponsored research projects.
- Support Sustainability and Affordability:
a. Develop measures to enhance the affordability of post-secondary education, including reviewing tuition fee structures and exploring financial aid options for students.
b. Encourage institutions to adopt sustainable practices and reduce their environmental impact through initiatives such as energy efficiency, waste reduction, and carbon neutrality targets.
