KENORA – Since 2015, the federal government has focused on strengthening and growing our economy and offering real help to Northerners. Our economic growth is helping more and more Canadians find an affordable home, prepare for good, well-paying jobs, and prepare for the rapidly changing job market. Gaining new skills, providing easier access to post-secondary education, and enhancing apprenticeship and training opportunities are some of the ways Budget 2019 is helping our youth prepare for the jobs of the future in an increasingly competitive global economy.
I’m extremely pleased with the introduction of the new Canada Training Benefit, which gives workers financial incentives to help pay for training. This new program will provide up to four weeks of income support during training. In order to ensure that workers can take time away from work, we are working with the provinces and territories to put in place leave provisions so employees can get the necessary training without risking their job security. Budget 2019 also aims to provide more on-the-job learning to young Northerners by creating up to 84,000 new student work placements per year by 2023-24. This is a significant step toward making sure every student who wants to gain real-world experience can find a work placement.
In today’s global environment, working and studying abroad can present a once in a lifetime experience. With that in mind, the International Education Strategy will not only support Canadian post-secondary students and young people pursuing opportunities to travel, study, and work overseas, it will also help attract more top-tier foreign students by promoting Canadian educational institutions as high-calibre places to study. To make international studies more attainable, this government will invest $147.5 million over five years and $8 million per year on-going.
We’re also making post-secondary education more affordable by lowering interest rates on Canada Student Loans and Canada Apprentice Loans, in addition to making the six-month grace period interest-free after a student loan borrower leaves school. This important change will not only make post-secondary more affordable, but it will also encourage youth to pursue further education, by alleviating the stress of student debt.
This year also marks the first time the Government has released a Youth Report along with the Budget, highlighting how young Canadians will be impacted by specific investments. The report examines how each budget measure would affect a diversity of Canadians, including young people and was developed through a gender-based lens.
Young Canadians are the most educated, connected and diverse generation this country has ever seen. Like all Canadians, they want the chance to work in a good career, buy a home, and build a better future – for themselves, their families and their communities. This budget makes the right types of investments to address challenges faced by our youth living in the North and provides them with access to opportunities on their road to successful and productive lives.