Highlights from Prince Edward Island's 2023-24 annual provincial budget
CHARLOTTETOWN — The Prince Edward Island government tabled a $3.09-billion budget Thursday. Here are some highlights:
— A projected deficit of $97.6 million on total revenues of $2.99 billion and expenditures of $3.09 billion.
— A three-year budget plan forecasts deficits falling to $58 million next year, and to $31.5 million in 2025-26 with net debt increasing from $2.5 billion to $3.2 billion.
— $21.9 million to establish a medical school at the University of Prince Edward Island; and $8.9 million to add 100 front-line positions and establish new medical homes.
— $25 million to develop construction-ready building lots; and $1 million to create tiny home communities.
— An allocation of $20.1 million for heat pump, hot water heater and insulation programs.
— $4 million to expedite the reduction of fees to $10 a day for all children enrolled in designated centres before the end of 2023.
— $950,000 set aside for transit and keeping fares low.
— $825,000 to promote round-the-year tourism programs and products; and $750,000 to showcase Charlottetown as a music city.
— $350,000 to support diversification of crops to prepare for climate change and explore controlled-environment and indoor farming.
— $640,000 to restore the trees lost from post-tropical storm Fiona and increase nursery tree production; and $550,000 to mitigate wildfires.
— $6 million to add 100 new positions in the education system; and $2.19 million to increase funding for the school food and breakfast program
This report by The Canadian Press was first published May 25, 2023.
The Canadian Press