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News · Investing in education generates fiscal and economic benefits according to new study by the Conference Board of Canada: OSSTF/FEESO

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Investing in education generates fiscal and economic benefits according to new study by the Conference Board of Canada: OSSTF/FEESO

TORONTO, ON June 19, 2019 — The Ontario Secondary School Teachers’ Federation (OSSTF/FEESO) is pointing to a newly commissioned report based on research by the Conference Board of Canada as evidence that provincial cuts to public education could impact high school graduation rates and lead to higher fiscal costs for the Ontario government.

The report, entitled The Economic Case for Investing in Education, examines the impact of public education on the economy in Ontario. It was released today at an Empire Club of Canada luncheon.

The report’s key findings include:

  • Each dollar invested in public education generates $1.30 in total economic impacts to Ontario. At the same time, the inverse holds true for each dollar taken from public education.
  • Increased investment in public education that lifts Ontario’s high school graduation rates to 90.0 per cent, matching the highest in the country, could generate average fiscal savings of $16.4 million per year on social assistance, health care, and criminal justice. That could accrue to total savings of $3.5 billion over the course of two decades.
  • In a reverse scenario, where high school graduation rates instead fall to 82.6 per cent, Ontario would spend an additional $18.0 million each year on these programs. Over a 20-year period, that could amount to total fiscal costs of $3.8 billion.
  • Each additional high school graduate saves the Ontario government (on average) $2,767 each year on social assistance, health care, and criminal justice, while each additional high school non-completer costs the province $3,128 each year.
  • Public education can generate social benefits, such as a healthier population, a higher standard of living, and a reduction in crime. That lessens demand for Ontario’s social assistance, public health care, and criminal justice services.

“These findings are a clear indication that investment in public education benefits all of us by bolstering the economy and potentially reducing the costs of other programs and services,” said OSSTF/FEESO President Harvey Bischof. “It’s also clear that the damage done when education is cut extends far beyond the school system and the students who rely on it."

“We have always taken the position that public education is an investment in Ontario’s future, and this research provides solid evidence that this is true,” continued Bischof. “In light of this evidence, we will be urging the Ford government to look closely at this Conference Board of Canada report, and to seriously reconsider the cuts it has planned for education in Ontario.”

To download a copy of the report, please follow this link: http://bit.ly/32FHGRV

 

 

OSSTF/FEESO, founded in 1919, has 60,000 members across Ontario. They include public high school teachers, occasional teachers, educational assistants, continuing education teachers and instructors, early childhood educators, psychologists, secretaries, speech-language pathologists, social workers, plant support personnel, university support staff, and many others in education.

Contact Information

Harvey Bischof, President

Ontario Secondary School Teachers’ Federation

Phone: 416-751-8300

Toll Free: 1-800-267-7867

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