Capital Budget

The Capital Budget is a forecast of spending for infrastructure and capital projects such as roads and bridges, public buildings, and equipment. The operating budget is delivered each spring.

On November 2, 2022 Premier Dennis King and Finance Minister Mark McLane tabled government’s 2023-2024 capital budget, outlining the the largest investment ever made in Prince Edward Island infrastructure. For the first time in our history, this five-year plan allocates more than one billion dollars to secure the future of health care, education, housing, safety, and public lands and roads.

Climate Resiliency and Sustainability

• Improving Energy Efficiency of Government Buildings
  • $10M over 5 years
  • Government is investing in improving its buildings to make them more energy efficient and environmentally friendly as part of the Province’s Climate Adaptation Plan.
• Emergency Preparedness and Resiliency
  • $9.7M over 5 years
  • We are investing in equipment and resources to ensure that our infrastructure and people are better able to respond to future environmental impacts.
• Expanding PEI’s Electric Highway
  • $3.5M over 2 years
    • The demand for electric vehicles continues to grow. The Province is pleased to be increasing its investment with 16 new fast charging stations across the Island for public use.
• Electric School Bus Fleet
  • $11M for a new total of $51.3M
  • Significant new funding will ensure that 25 electric school buses are added to the existing fleet each year, keeping us on the path of a fully electric fleet by 2030.
• Protecting Provincial Shorelines
  • $10M over 5 years
  • The Province is making a significant investment in the protection of its beautiful shorelines to mitigate impact of extreme weather events.

Investing in the Health of Islanders

• Continued Commitment to Mental Health
  • $25M for a new total of $174M
  • Following completion of the first two facilities, design and construction continues on the remainder of the Mental Health Campus projects, including the QEH Emergency expansion and the new acute care hospital and life skills centre.
• Technology Enhancements
  • $11M over 5 years
  • We are investing in our hospital information systems, mental health and addictions electronic medical records, and community pharmacy modules to support the new Pharmacy Plus program.
• Progressing Provincial Ventilation Systems
  • $8M over 2 years
  • New investment that will upgrade ventilation systems across six Island schools as well as at the Provincial Correctional Centre, Souris Hospital, Wedgewood Manor, Beach Grove Home and the QEH.
• New Hospital and Long-Term Care Equipment
  • $40.1M over 5 years
  • The replacement of the QEH linear accelerator at the Cancer Treatment Centre will be completed in June of 2023. Equipment to support the safe delivery of medications will be purchased for hospitals and long-term care facilities, as well as other Foundation supported equipment purchases.
• Supporting Improved Primary Care Access
  • $58M over 5 years
  • Construction of the new Summerside Community Health Centre (CHC) will begin in the Spring of next year. The new CHC in Alberton will be completed in the Fall of 2023. Planning, design, and construction continues on the remaining CHCs in Charlottetown and Kings County.

Building for the Future

• Closing the Gap on Housing
  • $100M for a new total of $150.9M
  • All Islanders should have a safe place to call home. The Province will create an additional 365 social and affordable housing units, for a total of 465 units within the next five years.
• Investing in Infrastructure for Island Students
  • $30M for a new total of $136.1M
  • Renovations at Elliot River and Montague Schools will conclude with this year’s budget. Construction has commenced on the new Sherwood Elementary School, and planning continues for the new Stratford High. The Province will also support planning for the replacement of École Évangéline, and has advanced the expansion schedule for École François-Buote.
• Building Through Partnerships
  • $3.4M over 3 years
  • One important component in addressing housing needs, now and into the future, will be the utilization of smaller homes. We will work with our partners including the PEI Construction association, Holland College and our high schools to construct 34 homes that will be distributed across the Island.
• Provincial Bridges and Highways
  • $50M for a new total of $240M
  • The Province is continuing to ensure that Island communities stay safely connected by increasing funding for bridge replacements and improvements, as well as increasing provincial-wide paving.
• Capital Repairs and Maintenance for Housing and Schools
  • $26M for a new total of $43M
  • Investments into updating, retrofitting and greening existing social housing and schools to address aging infrastructure.

Where can I find older budget documents?

Search Budget Archives for documents from 1998 to 2021.

Contact:

Telephone: 902-368-4201
Toll-free: 1-800-236-5196
Fax: 902-368-5544 
Email: tlredmond@gov.pe.ca