New resources will help students return to school with the tools they need to succeed
VAUGHAN – The Ontario Minister of Education, Stephen Lecce, announced $15 million to purchase thousands of classroom computers, and $10 million to hire additional mental health workers. These new resources will help ensure students can return to school with the confidence and the tools they need to succeed. This funding represents the highest amount the Ministry of Education has ever dedicated to these two areas through the Grants for Student Needs (GSN).
Through consultations with Public Health Ontario, the Hospital for Sick Children and front-line workers, the government heard about the need for enhanced mental health supports to respond to COVID-19. This new $10 million investment will provide students with unprecedented direct access to regulated mental health professionals and significantly reduce wait times.
“We know that the COVID-19 outbreak has impacted student mental health and well-being,” said Stephen Lecce, Minister of Education. “That is why our government is significantly increasing investments in supporting the mental health of students as we prepare for the reopening of schools. This investment represents a considerable increase in mental health funding that will help ensure critical front-line and wrap-around supports are helping those Ontario students who need it most.”
Today’s announced funding of $10 million is in addition to the government’s commitment of $25 million in permanent funding to hire approximately 180 front-line mental health workers in secondary schools across Ontario.
“There is nothing more important than ensuring the health and safety of our children and youth, and that includes mental health,” said Michael Tibollo, Associate Minister of Mental Health and Addictions. “Today’s announcement will bring much-needed resources to support the mental health of Ontario’s students, and moves us one step closer to creating a mental health and addictions system that works for all Ontarians.”
The province also recognizes that access to technology is more important now than ever as students prepare for a new environment which could include both learning at home and in-person learning. That is why the government is providing $15 million to secure up to 35,000 classroom computers. This new technology will help ensure students who face difficulty accessing technology are able to leverage these tools to succeed in the 2020-21 school year.
“COVID-19 is forcing the world around us to change, to adapt, and to embrace the digital landscape,” said Stephen Lecce, Minister of Education. “We will invest more in student computers, technology, and internet than any government in Ontario history because we want our youth to retain a competitive advantage. By delivering this funding, we are sending a signal to the country: Ontario is investing in our kids, closing the digital divide, and taking action to ensure all students have the best opportunity to learn when returning to school in the fall.”
Access to digital learning resources, as well as internet connectivity and access to devices, have all been identified by school boards and other stakeholders as urgent needs during the current school closure period. The Government is proceeding with internet connectivity at all schools in Ontario, including all high schools by September 2020 and all elementary schools by September 2021.
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“School Mental Health Ontario is proud to work together with Ontario school boards to advance student mental health through evidence-based mental health promotion, prevention, and early intervention services. We welcome this significant new investment in the mental health of students. It will help schools to reach more students with needed supports, and enhances the power of prevention and wellness promotion. Overall, this commitment contributes to a stronger system of mental health support for children, youth, and families in our province.” – Kathy Short, Executive Director, School Mental Health Ontario
“Big Brothers Big Sisters Ontario is honoured to be a part of the provincial government’s efforts and investment into the mental health and well-being of all students in Ontario. We are committed to supporting over 20,000 and counting vulnerable youth across our province. We are dedicated to being present for the families, children and youth who need our assistance and are proud to be part of Ontario’s recovery efforts.” – Susan Ingram, Executive Director, Big Brothers Big Sisters of Ottawa
“Technology in education fails when it diminishes the role of the teacher in the learning process. The Ontario Government is committed to solutions that maximize the role of teachers in improving student outcomes for important STEM subjects like math. Knowledgehook, trusted by teachers in 69 of the 72 school districts across Ontario, is used by over 150,000 math teachers globally. Today’s announcement by Minister Lecce shows a commitment to help close the digital divide and prepare the next generation of Canadian problem solvers for the global economy by putting educators first.” – Travis Ratnam, CEO, Knowledgehook
“In the last few months, the Ontario government, school boards, teachers, administrators and parents have all worked together and gone to extraordinary lengths to help Ontario students transition to distance, remote or fully online learning. While there is no substitute for teacher-directed learning in the classroom, here at home in Ontario and around the world, we’ve seen what technology can do to help keep our education system resilient, and to make a real, positive impact in the way students learn.” – John Baker, President and CEO, D2L
“The necessary emergency measures have posed significant risks to the mental health of kids who have been away from their support networks at school. It is to be expected that returning to school will also present unique challenges after a prolonged period of closures. Improving access to mental health professionals and other resources is good news for children and their families.” – Dr. Ronald Cohn, President and CEO of The Hospital for Sick Children
Quick Facts
Ontario launched Learn at Home and Apprendre à la maison, a new online portal that provides resources for families so students can continue their education while schools are closed due to the ongoing COVID-19 situation.
The Ministry of Education provides operating funding to Ontario’s 72 district school boards through the annual GSN education funding model. Funding to school boards is provided on a combination of per student, per school, and per board basis.
Through the government’s Broadband Modernization Program, the province is working with all school boards to deliver sustainable, modernized networks with improved Internet access at the target speed. As of March 31, 2020, broadband modernization is complete at 1,983 schools and in progress at 2,954 schools.
During the school closure period, the Ministry of Education partnered with Apple and Rogers to provide school boards with a high-impact, low-cost technology and connectivity solution to support remote learning. This partnership has provided tens of thousands of iPads equipped with three months free wireless data from Rogers to students in need. This is in addition to over 200,000 board devices that have been distributed to students across the province, supported by a $75M annual investment in technology by the Ministry of Education.
On World Mental Health Day in 2019, the government announced an investment of nearly $40 million, to advance student mental health in partnership with education groups.
Ontario is investing a landmark $3.8B in mental health supports to ensure a continuum of mental health and well-being support and resources from early years and beyond.
TORONTO – Canada’s main stock index was down more than 200 points in late-morning trading, weighed down by losses in the technology, base metal and energy sectors, while U.S. stock markets also fell.
The S&P/TSX composite index was down 239.24 points at 22,749.04.
In New York, the Dow Jones industrial average was down 312.36 points at 40,443.39. The S&P 500 index was down 80.94 points at 5,422.47, while the Nasdaq composite was down 380.17 points at 16,747.49.
The Canadian dollar traded for 73.80 cents US compared with 74.00 cents US on Thursday.
The October crude oil contract was down US$1.07 at US$68.08 per barrel and the October natural gas contract was up less than a penny at US$2.26 per mmBTU.
The December gold contract was down US$2.10 at US$2,541.00 an ounce and the December copper contract was down four cents at US$4.10 a pound.
This report by The Canadian Press was first published Sept. 6, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in technology, financial and energy stocks, while U.S. stock markets also pushed higher.
The S&P/TSX composite index was up 171.41 points at 23,298.39.
In New York, the Dow Jones industrial average was up 278.37 points at 41,369.79. The S&P 500 index was up 38.17 points at 5,630.35, while the Nasdaq composite was up 177.15 points at 17,733.18.
The Canadian dollar traded for 74.19 cents US compared with 74.23 cents US on Wednesday.
The October crude oil contract was up US$1.75 at US$76.27 per barrel and the October natural gas contract was up less than a penny at US$2.10 per mmBTU.
The December gold contract was up US$18.70 at US$2,556.50 an ounce and the December copper contract was down less than a penny at US$4.22 a pound.
This report by The Canadian Press was first published Aug. 29, 2024.
The crypto market has recently experienced a significant downturn, mirroring broader risk asset sell-offs. Over the past week, Bitcoin’s price dropped by 24%, reaching $53,000, while Ethereum plummeted nearly a third to $2,340. Major altcoins also suffered, with Cardano down 27.7%, Solana 36.2%, Dogecoin 34.6%, XRP 23.1%, Shiba Inu 30.1%, and BNB 25.7%.
The severe downturn in the crypto market appears to be part of a broader flight to safety, triggered by disappointing economic data. A worse-than-expected unemployment report on Friday marked the beginning of a technical recession, as defined by the Sahm Rule. This rule identifies a recession when the three-month average unemployment rate rises by at least half a percentage point from its lowest point in the past year.
Friday’s figures met this threshold, signaling an abrupt economic downshift. Consequently, investors sought safer assets, leading to declines in major stock indices: the S&P 500 dropped 2%, the Nasdaq 2.5%, and the Dow 1.5%. This trend continued into Monday with further sell-offs overseas.
The crypto market’s rapid decline raises questions about its role as either a speculative asset or a hedge against inflation and recession. Despite hopes that crypto could act as a risk hedge, the recent crash suggests it remains a speculative investment.
Since the downturn, the crypto market has seen its largest three-day sell-off in nearly a year, losing over $500 billion in market value. According to CoinGlass data, this bloodbath wiped out more than $1 billion in leveraged positions within the last 24 hours, including $365 million in Bitcoin and $348 million in Ether.
Khushboo Khullar of Lightning Ventures, speaking to Bloomberg, argued that the crypto sell-off is part of a broader liquidity panic as traders rush to cover margin calls. Khullar views this as a temporary sell-off, presenting a potential buying opportunity.
Josh Gilbert, an eToro market analyst, supports Khullar’s perspective, suggesting that the expected Federal Reserve rate cuts could benefit crypto assets. “Crypto assets have sold off, but many investors will see an opportunity. We see Federal Reserve rate cuts, which are now likely to come sharper than expected, as hugely positive for crypto assets,” Gilbert told Coindesk.
Despite the recent volatility, crypto continues to make strides toward mainstream acceptance. Notably, Morgan Stanley will allow its advisors to offer Bitcoin ETFs starting Wednesday. This follows more than half a year after the introduction of the first Bitcoin ETF. The investment bank will enable over 15,000 of its financial advisors to sell BlackRock’s IBIT and Fidelity’s FBTC. This move is seen as a significant step toward the “mainstreamization” of crypto, given the lengthy regulatory and company processes in major investment banks.
The recent crypto market downturn highlights its volatility and the broader economic concerns affecting all risk assets. While some analysts see the current situation as a temporary sell-off and a buying opportunity, others caution against the speculative nature of crypto. As the market evolves, its role as a mainstream alternative asset continues to grow, marked by increasing institutional acceptance and new investment opportunities.
