New P.E.I. capital budget focuses on 'what Islanders need most,' finance minister says
CBC
P.E.I.’s capital budget is prioritizing what Islanders need most, with health-care infrastructure and education leading the way in new spending, says Finance Minister Jill Burridge.
Burridge tabled the province’s 2026-27 capital budget in the P.E.I. Legislature on Tuesday afternoon, the opening day of the fall sitting.
This year’s budget spending is only slightly higher than last year’s record-breaking budget. The government estimates it will spend $486.5 million for 2026-27, and a total of about $1.6 billion over the next five years.
Burridge said the spending plan reflects the province’s growing population and the pressure that growth places on public services.
“While this plan is slightly smaller than last year's, the plan is focused, practical and grounded in what Islanders need most,” Burridge told reporters.
The province’s auditor general recently raised concerns about P.E.I.’s debt, with net debt surpassing $3 billion. Burridge said the projected net debt-to-GDP ratio for the upcoming fiscal year is 38 per cent, which is higher than in recent years.
But she said the province’s strong financial performance and growing economy allow it to move ahead comfortably with these investments.
“There's no frivolous spend. A lot of this work is really overdue," she said.
"Governments, over time, haven't been putting in those consistent investments to keep us where we are, and so we're in catch-up period right now, so I can say that we're at a point where the cost of inaction is actually the most risk."
Over the next five years, the province is setting aside more than $132 million to create a health-care campus in Kings County, including a new hospital and a community health centre. An additional $3.7 million will go toward upgrades at the existing Kings County Memorial Hospital in Three Rivers.
The province will invest $11.9 million over the next five years to purchase and install CT scanners at KCMH and at Alberton's Western Hospital. Both currently lack this equipment.
There will also be $131 million set aside to complete the ongoing Mental Health Campus project in 2027-28.
Other health-care investments include:
In total, $538 million will be invested in health-care infrastructure across the province over the next five years.
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