Ontario Budget 2001 : BUDGET SUPPORTS EQUITY IN EDUCATION

TORONTO - Finance Minister Jim Flaherty today announced the government's support for equity and choice in education by proposing a partial tax credit for parents of children attending independent schools. The Equity in Education Tax Credit would assist parents who want their children educated in their religion and culture but find the cost of sending their children to independent schools prohibitive.

Since this government took office, investment in the public education system has increased from $12.9 billion to almost $14 billion - more than required to meet enrolment growth. This year, the Budget continues the government's firm commitment of funding for Ontario's public education system, announcing a significant investment of another $360 million.

"This funding will ensure that students - whether they go to a public, Catholic or francophone school - have the tools they need to succeed," said Flaherty. "We will continue to make new investments in the publicly funded education system to improve the quality of education in Ontario," he said.

The Equity in Education Tax Credit puts the needs of parents and students first by offering choice to parents who want their children educated in their own culture and religion. The government proposes to phase in a partial tax credit, beginning in the 2002 taxation year, that would be provided for kindergarten, elementary and secondary tuition fees at independent schools in Ontario. The credit rates, to be applied to the first $7,000 of tuition fees exclusively, are proposed to be phased in over a five-year period.

Consultations will identify the appropriate framework for establishing eligibility for this credit.

"For years we've heard from parents who want their children educated in their own culture and religion," Flaherty said. "With this measure, Ontario would join other provinces in supporting educational choice," he said.

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For more information visit www.fin.gov.on.ca