09/08/2015 11:04 EDT | Updated 09/08/2015 11:59 EDT

Federal Election 2015: Harper Vows Education Savings Plan Increase

"This is an important but it is an affordable commitment."


MISSISSAUGA, Ont. — The Conservatives say they will increase the amount of money the federal government kicks in when low- and middle-income families invest in education savings plans.

Leader Stephen Harper made the campaign promise Tuesday during another stop in the Greater Toronto Area, where the party is hoping to hold on to a number of seats.

The increase to the Canada Education Savings Grants would mean that a family earning up to $44,000 would receive $200 for the first $500 socked away for their child's higher education plan each year.

A family earning up to $88,000 would receive $100 on the first $500 each year.

"This is an important but it is an affordable commitment,'' Harper said in Mississauga, Ont.

"And you know that when we Conservatives make such a commitment, because it is affordable, we will deliver on that commitment.''

All families currently receive $500 annually from the government for every $2,500 invested in a registered education savings plan, an amount the government increased in 2007.

Harper is scheduled to spend the day campaigning in southern Ontario.

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