Inflation Hits Students

If we assume that Inflation for 1976 was 15%, 1976 was 17%, 1977 was 17% and 1978 was 17% :-

To keep pace with inflation the bursary should have gone up by 16% in the 1976 budget. 17% in the 1976 budget, 17% in this year's budget and so on. If this had happened, starting at the beginning of 1978 the bursary (unabated) should be $37.78. For someone on the abated rate, their 1974 $13 is now worth $7.61. Even if the abatement were justifiable (which it is not) this should be, by the start of 1978, $20.46 to give the same pruchasing power as when the STB was set up in late 1975.

Those on $24/wk. needed a $13.78 increase ; they got $2. Those on $13/wk. needed $7.46 mofe ; they got $2. PhD students needed at leas $37.78 ; they got Nothing.

Sean Tuohy.