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Tories promise tax credit for education

Last Updated: Monday, May 11, 2009 | 1:26 PM ET

Nova Scotia's Progressive Conservatives are promising new parents a tax credit if they're willing to start saving for university or college before their child's first birthday.

Under the Tory proposal, parents would get $88 back if they contribute $1,000 towards a registered education savings plan.

PC Leader Rodney MacDonald said the one-time tax credit would help thousands of young families pay for education.

"Nova Scotians know the value of a good education. They know it opens the door to a brighter future for their kids, especially in Nova Scotia's knowledge-based economy," MacDonald said Monday.

He made the campaign announcement at a day care in Hammonds Plains, in the district where fellow PC Barry Barnet is running for re-election.

Barnet said $88 may not seem like a lot of money, but it could make a big difference for some families.

"Sometimes it makes the difference between whether somebody can or can't go to a post-secondary [institution]," said Barnet.

However, Gina Conrod, a member of the Halifax Regional School Board, isn't convinced.

"I don't know that $88 is really going to make much of a difference," said Conrod. "[It] doesn't equate to very much when it comes to groceries for the average Nova Scotia family, because I know myself I never spend less than $88 when I go to the grocery store."

NDP Leader Darrell Dexter said saving for a child's education is a good idea, but he wondered if the first year of a child's life is the best time to be asking people to put money aside.

"That's probably the most difficult time for young families to be investing in their child's education. Many times people are taking maternity leave, it's early in their lives," said Dexter.

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