The 2016 Federal Budget

This will been paid for by the elimination of the education and textbook tax credits, and the reversal of certain measures announced by the Conservative government in last year’s budget. [...] In addition to the increases in funding announced today, the government also intends to expand eligibility for the Canada Student Grants program to more middle-income students, at an additional cost of $790 million, over the next four years. [...] Page 2/14 C ancellation of Economic Action Plan 2015 SFA measures The 2016 Federal Budget: An analysis from Higher One of the most important headlines from Budget 2016 is the Liberal government’s Education Strategy decision to cancel the student aid-related budget measures promised by the Associates. [...] Elimination of Education and Textbook Tax Credits In order to pay for the massive increase in grants that provide immediate aid to students, the Liberal government is eliminating the Education and Textbook Tax Credits, beginning in January 2017. [...] On the face of it that might look like these students will be worse off, in net terms, by $158 – however, this analysis is complicated by the fact that the changes are asynchronous – the gain comes in the academic year, the loss in the calendar year.