More attention also needs to be given to project selection. Certainly, there is no shortage of areas in need of capital investment. But, one in particular that we believe should be high up on the pecking order is the all-important area of education, which made it as one of the federal government's five main priorities in its 2004 budget. The funding needs in education have been fairly well documented. Notably, the Canadian Association of University Business Officers estimates a massive deferred maintenance bill of almost $4 billion in fiscal 2000-01 - a shortfall which is contributing to a significant rationing of facilities and student entrance cutoff averages in the lofty 80-90 per cent range for many university programs. Worse, with the mini-boom created by the echo generation to continue to move through university over the next few years, the education infrastructure gap will only worsen. This presents a major risk to Canada's ability to compete down the road.
The federal government could play a major role in assisting post-secondary institutions with their limited financial capacity, which could fall under the banner "Building a Classroom for the 21st Century". However, the aim to turn Canada's post-secondary schools into world-class institutions would require federal-provincial cooperation. Put simply, there is no point building the capacity in post-secondary education unless universities also have sufficient operating funds to go along with it. And, that side is under the purview of the provincial government.