On April 6, 2018, Minister of Finance Heath MacDonald tabled Prince Edward Island’s (PEI) 2018-19 budget. This budget sees the province experiencing strong economic and population growth and presents the second balanced budget in a row for the province’s Liberal government. As a result of the province’s growth, the 2018 provincial budget presents large spending increases to invest in the province’s frontline services and address the challenges facing the people of PEI.
Notable expenditures include $32.5 million in new budgetary allocation towards health care; $17 million towards the development of new affordable housing solutions across the province; $17 million in additional spending towards education and early learning; and $3.3 million in additional funding for post-secondary students, including the development of a new Island Advantage bursary and increased debt reduction grants available to students who reside in PEI within three years post-graduation.
Additionally, through partnerships with the federal government, PEI is investing in its agriculture and fisheries sectors. $38 million is being allocated from the Atlantic Fisheries Fund over the next seven years to encourage innovation, productivity, automation and new product development in the seafood industry and $164 million is being allocated from the Canadian Agricultural Partnership over five years to support programs focused on markets and trade, science, research and innovation, risk management, value-added agriculture and agri-food processing, environmental sustainability, climate change and public trust.