Cost of living, inflation, housing key issues on P.E.I. campaign trail

The rising cost of living — from basic necessities to skyrocketing inflation and rising interest rates — has hit P.E.I. particularly hard, and it's become a key issue in the current provincial election.

P.E.I. has faced the highest inflation rate in the country in recent years with rent, groceries and gas in particular driving rates above the national average. Islanders are also grappling with substantial increases in the cost of home heating fuel.

Meghan Stewart and Sidharth Dhar, who both work in the restaurant industry in Charlottetown, say it's getting harder just to get by.

"It's hard living paycheque to paycheque. Some days I have to choose if I want to go out with my friends or if I have to buy groceries or if I have to buy a full tank of gas. It's hard to manage my budget," Stewart said.

"I'm at a place now where I would love to buy a house, I would love to start a family, but it's not a reasonable thing to do at this time because we don't have the money."

Dhar, who came to P.E.I. to complete a master's degree in business, can't vote in this election but he believes policymakers can — and should — do more to help Islanders.

"Recently I have noticed skyrocketing prices at grocery stores … and the salaries of course are not rising at the same rate inflation is rising, so a lot of changes need to be done to reduce the cost for people," Dhar said.

"The only way to really survive nowadays — and I'm not even talking about getting something really luxurious, just survival — is to scout out for deals … and basically plan your household menus based on the deals from the grocery stores.… Otherwise the price is just not affordable anymore."

They'd both like to see measures introduced to control the price of food and other necessities, plus rent controls and subsidies aimed at creating housing that's truly affordable.

Politicians from the four major parties have made it clear on the campaign trail that addressing the Island's housing crisis and introducing measures to help offset the rising cost of living is a priority.

The parties have outlined a variety of solutions and subsidies aimed at making life more affordable for Islanders, from increasing minimum wage to rolling back property tax assessment rates.

Here's a look at a few of the commitments rolled out so far.

The Green Party is promising to commit at least $385 million over the next five years to build new public housing and repair existing housing, including seniors' housing. The party says it would increase the minimum wage to $15.20 and make sure it keeps pace with inflation, increasing it by $1 per year until it reaches a living wage, and create a basic income pilot.

The Liberal Party's platform includes a subsidy for first-time homebuyers who make less than $95,000 a year and a promise to increase how much income those on social assistance can earn while still remaining eligible.