The RCEA is not sure of the impact on its members until NRC examines the full extent of the federal budget.  At first glance, however, it appears as though the impact on NRC will not be as large as anticipated.  NRC will receive an additional $67 million to help it refocus on business led, industry relevant research.  IRAP will receive an additional $110 million of granting money in each of the next two years.  The budget documents indicate that NRC must find savings of $1.3 million in the 2012/2013 Fiscal Year and $16.3 million each in the following two years.  By our estimation, this represents about 3% of the NRC budget for the second and third years. We do not yet know how this will be implemented or what effect it will have on the membership.

The Budget also seems to suggest that the government may be prepared to introduce legislation to deal with the issue of voluntary severance pay.  It will also be addressing the issue of pension contribution rates with a stated plan of have the employee portion of  PSSA contributions increase to 50% of contributions.

The RCEA will be meeting shortly with NRC with a view to determining how these budget changes will directly impact RCEA members.