Budget 2024 signals continued focus on healthcare, housing and affordability for all Islanders 

Finance Minister Jill Burridge

Today, Hon. Jill Burridge, Minister of Finance, presented government’s 2024-25 operating budget to the legislative assembly, outlining $3.2 billion in investments for Prince Edward Island with a continued focus on healthcare, housing and affordability measures.

“This budget signals where we’re headed as a province and shows Islanders where we will be making key investments in the upcoming year. Our government is responding to the needs of Islanders by investing in improving our healthcare system, helping to increase the availability and affordability of housing, and making life more affordable in our province.”

- Premier Dennis King

With revenues forecasted at $3.15 billion and planned spending of $3.23 billion, the province is expecting a deficit of approximately $85 million. The 2024-2025 budget focuses on improving healthcare, building housing and helping with the cost of living while supporting young and old Island residents, their families, and the places they live, learn and work. 

“Government budgets should be a reflection of what we’re hearing from Island residents, and I truly believe this one is,” said Minister of Finance, Jill Burridge. “We’re spending your tax dollars the way you want to see it spent. This is your hard-earned money. That’s something we never lose sight of and always remains top of mind.”

Highlights of the new investments in this budget include:

Improving Your Healthcare

  • $10.5 million to add more patient medical homes 
  • $9.9 million to support the implementation of a medical school
  • $7.1 million to add more doctors and more residency seats
  • $6.2 million to improve our recruitment of healthcare professionals
  • $4.9 million to provide more supports for seniors
  • $4.5 million to move towards wage parity for long-term care
  • $3.7 million to enhance access to care
  • $3 million to deliver mental health services
  • $2.4 million to integrate associate physicians and physician assistants
  • $2.2 million to train and upskill more RCWs, LPNs, paramedics and RNs

Building Together 

  • $10 million to grow and maintain our inventory of affordable units 
  • $6.9 million to expand shelter spaces and improve supports for vulnerable Islanders
  • $6.7 million for tax rebates for builders
  • $1.6 million to support social housing units
  • $200,000 to support creation of a land use plan

Helping with Everyday Costs

  • $14.6 million for tax system changes
  • $7.3 million for incentives to install heat pumps, hot water heaters and insulation
  • $3.1 million to improve supports for Social Assistance and AccessAbility Support clients
  • $1.1 million to introduce a PEI Children’s Benefit
  • $1 million to keep public transit fares affordable and add transit routes 
  • $380,000 to expand the seniors independence initiative

Learning and Growing 

  • $7 million to add more front-line staff to the education system
  • $4.3 million to grow childcare supports and spaces
  • $1 million to support school food programs
  • $940,000 to enhance the George Coles Bursary
  • $708,000 to implement a vision care program for children

Safer Communities and Strengthening Industries 

  • $2.4 million to implement the Gender-based Violence Action Plan
  • $2 million to grow the bioscience sector
  • $1 million to fund operating costs of the EV charging network
  • $1 million to strengthen agriculture 
  • $773,000 to improve impaired driving enforcement
  • $500,000 to begin development of a coastal management plan
  • $500,000 to expand the tourism season
  • $205,000 to support diversity and inclusion
  • $150,000 to address workforce challenges of municipal police services 
For more information on the 2024-25 operating budget, visit: Provincial Budget: Operating Budget.

Media contact:
Hillary Proctor
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