Prince Edward Island Budget Report 2016
April 19, 2016
On April 19, 2016, the Honorable Allen F. Roach tabled his second budget as Minister of Finance and Chair of Treasury Board for Prince Edward Island. The budget focuses on the resources needed to continue in a difficult economic climate.
The deficit expected for the 2015-16 fiscal year is $27.7 million, which is significantly higher than the original forecast of $19.9 million, but lower than the 2014-15 deficit of $34.7 million. The government is now forecasting a deficit of $9.6 million for 2016-17, and a surplus of $9.2 million in 2017-18.
Highlights
- Deficit of $27.7 million now forecast for 2015-16 fiscal year
- Deficit of $9.6 million projected for 2016-17 fiscal year
- Balanced budget by 2017-18
- HST rate increased
- No corporate or personal tax rate changes
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