Apr
6
2018

Budget benefits Islanders thanks to strong economy and responsible government spending

Minister Heath MacDonald and Premier Wade MacLauchlan prepare to deliver the 2018-19 operating budget.

The provincial government will again deliver a balanced budget while continuing to invest in frontline services like healthcare, education and families.

Finance Minister Heath MacDonald presented the 2018-19 operating budget  to the Legislative Assembly today. The budget is projecting a surplus of $1.5 million and a fiscal plan that reflects economic strength and responsible investments.

“I am very pleased that we have again balanced our budget, a goal of our government since we first took office,” Minister MacDonald said. “With a booming economy and our responsible spending, we are able to offer more support to initiatives most important to Islanders.”

Highlights of the budget include:

  • tax cut will save small businesses up to $2,500 a year;
  • free tuition for more than 1,000 Islanders;
  • up to 400 new childcare spaces;
  • new frontline positions to support students in the classroom;
  • rebate on the provincial portion of the HST on residential electricity, firewood, residential propane and pellets;
  • up to 1,000 new low-income housing units;
  • new rural growth initiative to provide $2.6 million to communities & organizations;
  • Basic Personal Exemption will increase by $1,000 over two years; and
  • an increase of $32.48 million to the health system;

“All Islanders should share in the benefits of a strong economy,” Minister MacDonald said. “Our fiscal plan confirms our commitment to health, education, communities, businesses, youth, families, and more.” 

Visit princeedwardisland.ca/budget for full details

 

Media Contact:
Samantha Hughes
shughes@gov.pe.ca

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Department of Finance
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95 Rochford Street
P.O. Box 2000
Charlottetown, PE, C1A 7N8

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

FinanceInquiries@gov.pe.ca