Major investments to encourage students and youth to work and stay in the province

Youth Services and Post-Secondary Education Minister Anna Thistle is pleased to announce exciting new initiatives to encourage students and youth to work and stay in the province.

"It�s important that we provide incentives to encourage our post-secondary students and graduates to remain part of the social and economic fabric of our communities and province. This province could make no greater investment than in its youth," said Minister Thistle. "Government believes a well-educated population is essential to economic prosperity and social well-being."

The initiatives are: a new program called Youth Opportunities Newfoundland and Labrador; tax incentives for post-secondary students; funding for the Student Investment and Opportunities Corporation (SIOC); a third consecutive tuition rate reduction at Memorial University; and a youth apprenticeship pilot project for the manufacturing sector. Government is also working with the federal government to enhance an existing program for apprenticeship and journeyperson training.

Youth Opportunities Newfoundland and Labrador
With $3 million announced in Budget 2003, government will provide a program designed to keep post-secondary students and graduates in the province by implementing incentives for employers who hire co-operative work-term students and new graduates. Details on this initiative will be announced when they are finalized.

Tax incentives for post-secondary students
Minister Thistle is also extremely pleased with another new initiative announced in today�s budget which is designed to encourage post-secondary students to work and stay in the province. "The tax incentive initiative will enable individuals to receive a non-refundable tax credit for a portion of the payment on their Newfoundland and Labrador Student Loans," said Minister Thistle.

Details on this initiative will be finalized following a roundtable with students and stakeholders, a decision-making process that will include members of the province�s Youth Advisory Committee who provided valuable input into the re-design of the provincial student loan program.

Funding for Student Investment and Opportunities Corporation
Budget 2003 provides $9.2 million for the Student Investment and Opportunities Corporation (SIOC), including funding for the new Youth Opportunities Newfoundland and Labrador program. "Addressing the transition from school to work is part of the mandate of my department and this continued investment will help build on employment programs already in place throughout the province," added Minister Thistle.

Third consecutive tuition rate reduction at Memorial University
Two million dollars has been allocated in Budget 2003 to enable Memorial University to reduce tuition rates by a further five per cent effective September 2003. The tuition reduction at Memorial will apply to all programs, with the exception of the Marine Institute (which has rates similar to those of the College of the North Atlantic) and Memorial�s Medical School. For these programs, tuition rates remain frozen. A different tuition rate structure applies to international students. Memorial University offers the lowest Canadian tuition rate in the country.

Youth apprenticeship pilot project for the manufacturing sector
Minister Thistle also announced $100,000 for a new initiative to help address the skills gap which exists in the manufacturing sector in Newfoundland and Labrador. The Department of Youth Services and Post-Secondary Education, in partnership with Human Resources Development Canada, recently launched youth apprenticeship pilots in Clarenville and Marystown. Minister Thistle is pleased to extend this pilot project to the St. John�s region with a focus primarily on youth who have career interests in the manufacturing sector. In addition, $30,000 in seed funding will be provided, through the Department of Industry, Trade and Rural Development, to assist the Canadian Manufacturers and Exporters in scoping out and developing a plan for a promotional campaign on careers available in this sector.

Apprenticeship training
The Government of Newfoundland and Labrador, in partnership with Human Resources Development Canada, is also working to enhance an existing program for apprenticeship and journeyperson training. Details will be announced when they are finalized.

Media contact: Kathy Dicks-Peyton, Communications, (709) 729-6573.

2003 03 27                                         4:35 p.m.