Budget 2020-21 charts path forward for Islanders during COVID-19

Finance Minister Darlene Compton

Today, Premier Dennis King and Finance Minister Darlene Compton presented the 2020-21 provincial budget which outlines $2.2 billion in planned investments in Islanders, environment, business and primary sectors.  

“As challenging as the past few months have been, we have an opportunity to reset. Now is the time to chart a new path forward for our province and our people as we learn to live with COVID-19. This budget reinforces our commitment to Islanders, communities and industries. It also provides the necessary supports for our province to not only recover, but thrive in the face of adversity as we reimagine our future.”

Premier Dennis King

Budget 2020-21 is an important step on the path to recovery from COVID-19.  While taking a measured response to the pandemic, with this budget government is also advancing its mandate of putting people first. We have heard from Islanders and collaborated with all parties to shape this budget.

Health, education, environment and the social and economic needs of Islanders remain the core priorities in Budget 2020-21.  Many new and ongoing initiatives will also play a key role in the province’s recovery and growth efforts, including: 

  • a Small Business Tax Reduction that will bring the province to the lowest levels in the region; 
  • an increase to the Island Advantage Bursary that will make post-secondary education in Prince Edward Island more affordable;
  • a School Lunch Program, offered in partnership with local providers, that will provide healthy food to more Island schoolchildren; 
  • a Pathway to Net Zero and Sustainable Communities that will set the province on a path to full energy sustainability; 
  • as well as the creation of: 
    • a Social Sector Community Partners Fund that will provide more secure core support to our key partners and advance special projects; 
    • a Telework Adaptation Fund to incentivize smart work remotely; and, 
    • a Climate Challenge Fund to build better solutions for Prince Edward Island.

“In working with my department and senior officials, it became evident that the budget presented today has been the most challenging to prepare in recent history,” said Minister Compton. “Our government will continue to be responsive and responsible as we create a future where Islanders excel, businesses thrive, communities are inclusive and Prince Edward Island emerges as a sustainability leader.” 

For more information on planned expenditures, visit  2020-21 Operating Budget.


Additional Budget 2020-21 highlights include:

Enhancing health care

  • $3.2 million for new physicians
  • $1.4 million to add cancer drugs to the provincial formulary
  • $850,000 to increase the complement of nurse practitioners, nursing and allied health professionals; and
  • $813,000 to develop and expand virtual care. 

Investing in Education

  • $2 million to hire 24 teachers and 15 educational assistants;
  • $1.8 million to launch the School Food in September;
  • $700,000 to increase the Island Advantage bursary to Island post-secondary students; and 
  • $700,000 to increase salaries for Early Years Centres staff, Special Needs and Autism Assistants.

Clean energy and sustaining the environment

  • $2 million towards the Solar Electric Incentive Program;  
  • $1 million for the Climate Challenge Fund;
  • $5 million Active Transportation Fund; and
  • $500,000 Telework Adaptation Fund.  

Meeting the needs of Islanders

  • $8 million increase to AccessAbility Support Program; 
  • $1 million to support emergency shelters, supportive housing, and community outreach; 
  • $1.25 million to enhance dental care benefits for seniors and low-income Islanders; and
  • $740,000 to increase the Childcare Subsidy. 

Media contact:
Spencer Lee
Department of Finance

General Inquiries

Department of Finance
2nd Floor South, Shaw Building
95 Rochford Street
P.O. Box 2000
Charlottetown, PE, C1A 7N8

Phone: (902) 368-4040
Fax: (902) 368-6575