02 August 2010

The politics of financing post-secondary education in Newfoundland and Labrador

Nottawa lays it out very neatly:

It's a political masterstroke. Having already taken all the political credit for the revenue generated by his predecessors, Williams is now doing the same with expenditures of his successors. It's brilliant. Whether or not it's sustainable is another thing.

That would pretty much put post-secondary education financing in line with the rest of the current administration’s management of public money:  unsustainable.

Then again, nottawa sets out that sort of thing as well when he notes the costs in the policy re-announced today by the province’s education minister:

What is the point is that this announcement, at the time of its making, and on its one year anniversary is really not an "investment" of the "Williams Government" in any way shape or form. It's a commitment made on behalf of Williams' successor, the person who'll one day have to account for the cost of borrowing money at 4, 7, 8 or even 10% in order to lend it out to post-secondary students interest-free.

Evidently financial management and economics were not included in the curriculum at Darin King’s alma mater.

- srbp -