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Randall Denley: Ontario's reviewing university funding. Connecting it to jobs is the right start

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'The provincial government is stepping up with permanent base funding to make sure STEM training is not affected, but that’s not all it is doing'

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The Ontario government this week took a welcome and long overdue step towards paying for the kind of post-secondary system the province needs to drive economic growth.

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It will spend $750 million over five years to cover the cost of 20,500 student places in science, technology, engineering and math (STEM). People with those skills are essential in a tech-driven world. It makes sense to train as many as possible.

However, the news isn’t quite as good as it would first appear. This is not a major expansion of STEM training. Rather, it is largely the Doug Ford government belatedly providing the money for something universities, and to some extent colleges, are already doing.

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Ontario’s rigid and out-of-date university funding formula hampers universities’ ability to respond to economic demand by limiting the number of students they can take.........

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