Quoting reliable sources, this morning's La Presse states that the Harper government has heard the calls of athletes and of Canadians made proud by the successful Vancouver 2010 Winter Olympics. All want to build on the success of our athletes.
Accordingly, regardless of the coming austerity measures which will inevitably be necessary to reign in budget deficits, it is believed that Finance Minister Jim Flaherty will confirm in tomorrow's budget that the federal government will "top up" the budget of the now famous "We own the Podium" program.
This program was established in 2005 in view of ensuring Canadian success at the 2010 Vancouver Olympics. Half of the 110$ million program was financed by the Federal Government; the rest of the financing being split amongst the provincial governments, private sector and by VANOC (Vancouver Olympic Committee); the end of the sporting event and dissolution of VANOC meant that 11$ million were missing to allow continuing funding of the program in view of upcoming Olympics.
The COC (Canadian Olympic Committee) had asked the federal government to replace VANOC's contribution; initially, the State Minister for Sports, Gary Lunn disagreed according to a Toronto media interview where he stated that the Federal Government could not help everybody in this period of budget austerity.
If La Presse sources are right, the federal government will not only fill in for VANOC but double the 11$ million contribution to 22$ million! This is obviously a good political move and a way to avoid the wrath of Opposition Parties and, undoubtedly, of numerous Canadians. It is, after all, a drop in a Federal Budget that should come close to 240$ billions.
It appears that the Federal Government hopes that this move will spur the private sector into investing more heavily in our elite athletes.
Undoubtedly, more details will be provided in the budget speech scheduled for tomorrow at 4:00PM. In the meantime, a new Throne Speech to be read today by Governor General Michaelle Jean will outline the plans of the government for the upcoming session.
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