For Immediate Release
Tuesday, May 12, 2009
HALIFAX – The tax credits unveiled today as part of the New Democratic Party platform will do very little to improve access to post-secondary education. The Conservatives announced a similar plan last week.
“High tuition fees have caused student debt to skyrocket in Nova Scotia. Students and their families need real relief, not a re-branded tax credit scheme,” said Kaley Kennedy, Nova Scotia National Executive Representative of the Canadian Federation of Students.
The proposed program will increase the current graduate tax credit, from a $2,000 one-time non-refundable tax credit, to a $2,500 annually credit available for up to six years. The proposal is estimated by the NDP to cost about $6.5 million, an amount that could reduce tuition fees by $200 or nearly double the province’s needs-based grants program.
According to the Maritimes Provinces Higher Education Commission, only one per cent of graduates cite access to tax credits as a reason for staying in the province, while the vast majority cite financial reasons for why they leave the province after graduation. The 2009/2010 budget tabled by Finance Minister Jamie Muir on May 4 extended the period for which the graduate tax credit could be claimed because the program was under-used by graduates.
“In the past, the NDP has advocated for lower tuition fees,” continued Kennedy, “It’s very disappointing that they’ve chosen to focus on tax credits which are proven to be ineffective in reducing student debt and curbing the out-migration of youth,”
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The Canadian Federation of Students is Canada's largest student organisation. It is composed of over 80 university and college students’ associations in all ten provinces with a combined membership of over one-half million students.
For more information, please contact:
Kaley Kennedy
Nova Scotia National Executive Representative
Canadian Federation of Students
Office – (902) 425-4237
Cellular – (902) 802-4616
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