UCP MUST RESTORE CUTS TO UNIVERSITY OF CALGARY, MAKE REAL INVESTMENT IN INNOVATION

CALGARY – Alberta NDP Economic Development and Trade Critic Deron Bilous issued the following statement regarding investment in innovation and research at the University of Calgary:

“This is not new money. It doesn't come close to restoring the UCP's cuts to the University of Calgary.

“The UCP cut almost $60 million dollars from the University of Calgary in just two years, prompting serious academic layoffs and endangering its reputation as an international centre of excellence. This is on top of their decision to slash many of the major province-wide investments our NDP government made in attracting investment and expanding scientific research, innovation, emerging technology and artificial intelligence; all to pay for their no-jobs $4.7 billion dollar corporate handout.

“So, no. Doug Schweitzer does not get to pat himself on the back and call it a day. The UCP's short-sighted decisions are leaving our province without an economic future. Until this government can demonstrate that the advancement of research and innovation is a priority by reversing their devastating cuts, Alberta will not draw the international investment and talent we need to skill up our workforce and diversify our economy.

“We need a government that sees innovation and research as an economic opportunity, and then dives in with both feet. This Minister is just sprinkling pennies in a wishing well."

UCP Cuts:

• Campus Alberta (Post-Secondary) Grants: Approximately $1 billion cut, over two years.
• Artificial Intelligence supports: $66 million cut over four years.
• Alberta Innovates: $70 million cut.
• Scientific Research and Experimental Development Credit: $66 million cut annually.
• Interactive Digital Media Tax Credit: Approximately $13 million cut.
• Alberta Investor Tax Credit (AITC): $20 million cut annually.
• Capital Investment Tax Credit: $30 million cut annually.