Nov
7
2024

Province Announces Bold New Capital Budget: “Building for Our Future”

Finance Minister Jill Burridge

Today, the Government of Prince Edward Island unveiled its largest capital budget in decades, focused on key investments that will shape the province’s future. With the theme “Building for Our Future,” this year’s capital budget reflects a historic commitment to infrastructure renewal, modernized public services, and sustainable growth—comparable to the transformative Comprehensive Development Plan of 1969.

“This capital budget is not just about addressing the needs of today—it’s about preparing PEI for the challenges and opportunities of tomorrow. Much like the leaders of 1969 did with the Comprehensive Development Plan, we are committed to making bold decisions that will strengthen the foundation of our communities for generations to come by building schools, healthcare centres, more homes, and modernizing our public infrastructure like roads, bridges, and cell phone towers.

- Premier Dennis King

HIGHLIGHTS OF THE CAPITAL BUDGET:

Building Strong Foundations for Learning

  • Two new elementary schools in Charlottetown (East Royalty and West Royalty) - $64.9 M 
  • Georgetown Elementary School replacement - $10 M
  • Stratford Junior High School - $70.4 M
  • Westisle High School major renovations phase 1 - $16.8 M
  • Queen Charlotte Intermediate School expansion - $18.9 M
  • Completing ongoing major projects including: Sherwood Elementary School ($4.7 M), Stratford High School ($54.9 M), École Évangéline ($53.3 M), and École François-Buote expansion ($21.8 M) 
  • School Revitalization Fund for upgrades and repairs - $16 M

Building a Healthier Tomorrow

  • Finishing the new Mental Health Hospital and new Addictions Treatment Centre on the Mental Health Campus - $205.5 M 
  • Home Care Adult Day Program for seniors - $18.8 M
  • Long-term Care bed expansions in Souris and Tyne Valley - $11 M
  • Expanding patient medical homes in South Shore, Gulfshore and Central Queens - $4.1 M
  • Kensington primary care access clinic - $3.4 M
  • New primary care clinic space - $5.4 M
  • Midwifery clinic in Summerside - $1.2 M 
  • Accommodations and childcare space for Medical Residents at QEH - $12.3 M
  • Phase 2 redevelopment for QEH - $16 M
  • Begin work on new Kings County Memorial Hospital - $34 M
  • Opening new Community Health Centres in Three Rivers ($21.2 M), Charlottetown ($26 M), and Summerside ($10.3 M) 

Building Homes, Strengthening Communities

  • Building 482 new social housing units - $184.6 M 
    • Includes 30 housing units at the former manor site in Montague - $13 M 
  • Adding supportive housing - $1.5 M 
  • Building tiny and small homes and related infrastructure - $14.0 M 
  • Upgrading and repairing existing public housing units - $31.7 M
  • Upgrading and creating new group homes and supportive housing for vulnerable children and youth - $9.4 M

Building Modern, Accessible Public Services

  • Building and maintaining roads, bridges and highways - $295.6 M
  • Building cell phone towers to improve cell coverage - $2.5 M 
  • Investing in health technology to make our healthcare system more accessible and efficient - $22.6 M 

“This budget is about more than bricks and mortar,” said Hon. Jill Burridge, Minister of Finance. “It’s about creating the conditions for sustainable growth and ensuring every Islander—no matter where they live—has access to the services, opportunities, and infrastructure they need to succeed.”

The 2024 capital budget sets a bold course for PEI’s future, addressing urgent infrastructure needs while building a sustainable foundation for long-term prosperity. From new schools and healthcare facilities to affordable housing and modernized public services, these investments will touch every corner of the province.

“We are building for a future where PEI is more connected, more resilient, and more prosperous,” said Hon. Jill Burridge, Minister of Finance. “Just as the Comprehensive Development Plan transformed PEI in the late 1960s, today’s budget will leave a legacy of progress that future generations will benefit from.”

For more information on the 2025-26 Capital Budget, visit: Capital Budget.

Media contact:
Janice Fogarty
Department of Finance
jefogarty@gov.pe.ca
 

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

DeptFinance@gov.pe.ca