The Ontario government has reinforced its commitment to post secondary education in its new provincial budget.

The government announced $150 million in immediate and one-time support for colleges and universities. “We have been working closely with the province and they understand the significant financial challenges universities are facing,” said McMaster President Peter George.

“These one-time funds will help to protect the gains made under the Reaching Higher Plan and will provide some relief to the increasing operating budget pressures we face.”

The government also provided additional details on the provincial commitment in support of campus renewal to match Ontario's share of the federal government's funding for postsecondary infrastructure.

Finance Minister Dwight Duncan announced $780 million to modernize facilities and boost the province's long-term research and skills training capacity.

“McMaster has significant deferred maintenance, renovations and new projects and the provincial match of federal funds will help improve out learning and research facilities,” said George.

The budget also included:

– $300 million in capital funds over six years for research infrastructure to leverage funding from the federal Canada Foundation for Innovation

– $100 million in operating funds through the Ontario Research Fund for research performed in the biomedical field, focusing on genomics

George went on to say that, “During the next year we look forward to continuing to work with the province on the development of a Reaching Higher Two Plan to address long-term quality and university priorities and base funding requirements.”