With Canada's smallest provincial population, and a net outflow of the population (based on 2015 figures), Prince Edward Island certainly faces its share of unique challenges.
one added advantage is found in the fact that nearly 40% of provincial revenue comes in the form of transfers from the federal government.
Budget 2016 proposes additional revenue-generating measures:
- Increase the Harmonized Sales Tax by one percent effective October 1, 2016; and
- Increase the PEI Sales Tax Credit by 10% effective July 2016.
But to partially offset the tax increases, the budget proposes the following:
- Eliminate the Real Property Transfer Tax for all first-time home buyers as of October 1, 2016
- Increase the Basic-Personal Income Tax exemption to $8,000 for 2016
- Increase health expenditures by over three percent
- Increase tax relief for low-income islanders for 2016
On the spending side, Finance Minister Allen Roach says these revenues will go directly to strategic investments, including:
- an additional $18.2 million to ensure sustained health and wellness, including enhanced home care for frail seniors
- an additional $7.1 million to improve education and invest in youth and prosperity
- an additional $2.6 million to support those most in need; and
- an additional $7.1 million to help grow employment and our economy.
Official 2016 Budget documents may be found at the following link:
Home Modifications and Devices Highlighted in PEI Budget
April 8, 2014 - Charlottetown
In a budget that many expected would be a "stay-the course" expenditure plan, PEI's 2014 Budget, delivered today by Finance Minister Wes Sheridan, added a new home care renovation program to the Province's roster of services as well as increased the grant amount to $2,000 for eligible applicants to the Seniors Home Repair Program.
Another new initiative recognizes the importance of returning home from hospital earlier: the Health Equipment Loan Program. The Government of Prince Edward Island in partnership with the Red Cross, will offer the new program to allow islanders to recover independently in their own homes.
The Government's $1.6 billion budget will also provide free eye exams and glasses to some kindergarten children, a partnership with private sector sponsors that will launch this fall. And upwards of $400,000 is committed to buying insulin pumps for children with Type 1 diabetes.
Information specific to programs and services for people with disabilities may be found at:
Health and Social Spending: PEI’s only Increases in 2013
March 27, 2013 - Charlottetown
The biggest “news” item from Finance Minister Wes Sheridan’s 2013 Budget Speech was the announcement of exactly how the Province would move toward a 14% HST on April 1st. – a measure that was actually announced in last year’s budget.
What didn’t make the national news was that PEI’s only two portfolios to receive spending increases are Community Services & Seniors and Health PEI; areas of spending increases that also coincide with the very same areas of employment gains for the Province, both up by 8.4%.
Since 2007, the Province has invested $192 million annually in healthcare, for items ranging from new medications, to strengthened home care and improvements to long-term care for seniors.
This budget contains an additional $1.5 million to expand services for home and long-term care. As Minister Sheridan points out, “This reflects our belief in the importance of home care, which has seen a 91% increase in funding since 2007.”
Information specific to programs and services for people with disabilities may be found at: http://www.gov.pe.ca/sss/index.php3?number=1018613.
PEI’s population now stands at slightly more than 146,000 people, and the Province’s three largest sectors are farming, fishing and tourism.
Official 2013 Budget documents may be found at the following link : http://www.gov.pe.ca/budget/.