Prince Edward Island Budget Report 2015

On June 19, 2015, the Honorable Allen F. Roach tabled his first budget as Minister of Finance and Chair of Treasury Board for Prince Edward Island. The budget focuses on strong fiscal management, creating conditions for sustained economic growth, and expanding opportunities for economic and cultural sectors.

The deficit reported for the 2014-15 fiscal year is $34.7 million, which is down slightly from the deficit forecast last year of $39.7 million. The government is forecasting a deficit of $19.9 million for 2015-16. By limiting growth in expenditures and stimulating revenue growth in the private sector, the province is moving towards a balanced budget with a surplus of $11.9 million predicted for 2016-17.

Highlights 

• Deficit of $34.7 million now forecast for 2014-15 fiscal year
• Deficit of $19.9 million projected for 2015-16 fiscal year
• Budget still expected to be balanced in 2016-17
• Low income tax reduction enhanced