Canadian government re-invests in Own the Podium

Finance Minister Jim Flaherty delivered a stay-the-course budget on Tuesday that will re-invest in Own the Podium, a program that supports elite Olympic athletes.

The Conservative government's new budget includes a renewal of the $22-million-a-year Own the Podium program, which was first established six years ago to help Canadians win medals at the 2010 Winter Olympics.

The $117-million, five-year program was paid for with $66 million of taxpayer dollars. The Vancouver organizing committee, VANOC, covered the majority of the balance with corporate sponsorship money.

Although the program did not achieve its stated goal of winning the most total medals at the 2010 Games — the U.S. led the way with 37 — Canada did succeed in breaking the record for most gold medals won in a Winter Olympics with 14.

In total, Canada won 26 medals in Vancouver, the most medals the nation has ever won at a non-boycotted Olympics (summer or winter).

Own the Podium has since expanded to include a division for summer sports, known as the Road to Excellence, which is geared to helping Canada place in the top 12 at the 2012 Summer Games in London.