Billion-dollar capital budget to revitalize province
Today, Premier Dennis King and Finance Minister Jill Burridge presented government’s capital budget to the Legislative Assembly, outlining a spend of $1.3 billion in infrastructure investments for Prince Edward Island.
“This capital budget is about investing in key areas such as housing, healthcare, and communities and ensuring they have the infrastructure to evolve and adapt with the changing realities of our province. Our government continues to listen to Islanders and this budget reflects the conversations we’ve had at kitchen tables, in boardrooms, and communities large and small, rural and urban to help our province grow and prosper for years to come”
- Premier Dennis King
The five-year plan, with $368.8 million spending in the 2024-2025 fiscal year, focuses on transforming healthcare, addressing the housing crisis, modernizing schools, and revitalizing and strengthening our communities.
“Our plan was developed with consideration for government's fiscal capacity and sustainability at top of mind,” said Hon. Jill Burridge, Minister of Finance. “Every investment in this plan has been carefully considered and calculated. Each budget line serves a purpose that directly contributes to a better future for our province.”
For more information on the 2024-2025 Capital Budget, visit www.princeedwardisland.ca/capitalbudget
Department of Finance
Capital Budget Highlights
Continued Commitment to Mental Health
$167M over 5 years
Ongoing design and construction of the Mental Health Campus project, including the QEH emergency department expansion, short stay unit, and new acute care hospital and life skills centre. Within this five-year Capital plan, the campus will be complete and supporting Islanders in need of care.
Space for Medical Students
$17.5M over 5 years
To support current medical residents and prepare for residents from the UPEI Medical School by creating learning and staffing spaces at QEH and PCH. This will also include a new building near the QEH for resident accommodations and programming, as well as childcare space.
Healthcare Facility Upgrades
$125.5M over 5 years
To improve healthcare facilities across PEI including a new KCMH in Three Rivers and QEH redevelopment, ventilation upgrades at QEH and long-term care facilities, roof replacements, and upgrades to ensure safety. This investment includes equipment worth $31M that is funded by hospital foundations across the province.
$57M over 5 years
To continue implementing Patient Medical Homes across PEI to improve healthcare access for Islanders. Construction is underway at sites in Summerside and Charlottetown. Planning is underway for a second site in Charlottetown and another in Three Rivers.
$18.3M over 5 years
Investments in hospital information systems, mental health and addictions electronic medical records and long-term care solution to support residents.
Improving Emergency Shelters and Transitional Supports
$12M over 5 years
To create a 25-bed emergency shelter in Summerside, support the relocation of the Community Outreach Centre in Charlottetown and start work at Smith Lodge to add 13 more supportive housing beds.
More Social Housing
$176M over 5 years
To purchase or build an additional 95 social and affordable housing units to increase the total to 560 units within the next five years. This includes support for the Malpeque Road and Hillsborough Park developments.
Building Through Partnerships
$10.5M over 5 years
For partnerships with Holland College, PEI Construction Association and the public school system to construct small and tiny homes. This includes funding for land and infrastructure to create a tiny home community. Another 34 units will be added for a total of 78 units in the 5-year period.
School Revitalization Fund
$22M over 4 years
For capital repairs and renovation needs at schools to enhance learning conditions for students and staff. This is in addition to the 5-year capital repairs budget of $20M.
Building and Expanding
$176M over 5 years
For school expansions and replacements, including Queen Charlotte Intermediate School to add classrooms and breakout rooms, a building assessment of Westisle Composite High School to determine upgrade needs, and the completion of the Stratford High School.
Electrifying the Fleet
$6.3M for a new total of $57.6M
To purchase 132 new electric school buses and charging infrastructure to support the plan for a fully electric fleet by the end of 2030.
A pilot program for schools to create outdoor learning spaces to stimulate new educational opportunities and a greater appreciation for our natural environment.
Revitalizing and Strengthening Communities
Enhancing Provincial Parks
$10M over 5 years
For new playgrounds, boardwalks, equipment, campsites, and renovations to washrooms and other structures at Provincial Parks.
Prepared and Ready
$7.2M over 5 years
To purchase and replace generators at Government-owned sites across the province; emergency equipment, including radios and cots; and forest fire response vehicles and equipment.
Provincial Bridges and Highways
$16.1M for a new total of $256M
To increase funding for bridge replacements and improvements and provincial-wide paving to keep Island communities connected and support economic growth.
Safe Aquaculture Access Points
$500,000 over 5 years
For the repair and upkeep of aquaculture access points to maintain safety for aquaculture users across the Island.
Improving Energy Efficiency of Government Buildings
$22.4M over 5 years
Improvements to Government buildings to make them more energy efficient and environmentally friendly as part of the Province’s Climate Adaptation Plan, including clean energy upgrades at Cardigan Consolidated School.