Guest Editorial
By Michelle Mungall
New Democrat leader Adrian Dix has made it clear that he understands that access to post-secondary education and trades training is the foundation of our economic future.
It is also a cornerstone of the New Democrat plan to reduce inequality and improve the lives of British Columbians.
Unfortunately, the Liberals’ only recent post-secondary announcement offered nothing more than a modest expansion of an existing program which helps a small percentage of former students pay back their loans.
While it was great to see some relief for former students drowning in debt, the reality is that the Liberals have failed to take the bold steps needed to tackle student debt.
Under the B.C. Liberals students pay the highest provincial student loan interest rates in the country, at prime plus 2.5 per cent.
B.C. students also have the highest average debt load west of the Maritimes, at $27,000 after a four year program.
At the same time, the Liberals cut the student financial needs-based grant program in 2005, leaving B.C. the only province without this important program that helps prevent student debt while investing in our future.
Equally notable is that the Liberals’ three-year budget plan cuts advanced education at a time when we need to train more students to address the projected skills labour shortage.
Failing to properly invest in post-secondary education is, economists say, a major concern for B.C.’s economic future.
Without a skilled and educated workforce, B.C.’s productivity can decline and costs increase, making B.C. an undesirable investment destination.
It’s essential to build on the skills of our labour force to ensure that B.C. can compete in a 21st century global economy that rewards and invests in jurisdictions with highly skilled workers. That’s why New Democrat leader Adrian Dix has put forward a plan to offer needs-based, non-repayable student grants – to lower the debt loads of young people just entering the workforce and to make retraining for existing workers more accessible.
New Democrats have not only laid out this plan, which would reduce inequality and make B.C. more economically competitive, we’ve shown how the province could pay for it.
The program could be paid for in full by reinstating the minimum tax on financial institutions which was in place under the B.C. Liberals until 2008.
With thousands of jobs without people and people without jobs here in B.C., it’s essential invest in advanced education and trades training.
Given that the Liberals' own reports show that 80 per cent of new jobs created over the next decade will require some form of post-secondary education or trades training, this issue is critical to the future of our province.
New Democrats will continue to propose positive solutions to the problems facing British Columbia, focused on reducing inequality and making post-secondary education and training more affordable for families.
Michelle Mungall is the New Democrat critic for Advanced Education and the MLA for Nelson Creston.
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