P.E.I. Liberals accuse government of 'fiscal recklessness' and ignoring warnings about growing debt
CBC
The P.E.I. Liberals are accusing the Lantz government of ignoring the auditor general's warnings about the province's growing debt and of having "lost control" of Prince Edward Island's finances.
The province's debt is currently more than $3 billion.
"Why is your government ignoring calls from the auditor general and continuing down a path of fiscal recklessness?" Opposition Leader Hal Perry asked during question period in the legislature Thursday.
Finance Minister Jill Burridge said government is listening to the province's AG.
"Our fiscal anchor is net debt to GDP. It's 32.6 right now," she said.
"I'm not trying to paint a rosy picture here. We have significant pressures on us as a government right now, and we are managing through that. We'll have a debt strategy coming here shortly."
"I never in my life would have imagined that a government could be so careless about the Island’s future," Perry said.
"This minister will go down as the most irresponsible and the least transparent financial minister in recent history."
But Burridge said that while government is doing everything it can to manage the fiscal pressures, there are programs and services that are needed — for Islanders now, and for future generations.
"We’re at a point that if we don’t make these investments, we’re actually sacrificing a huge piece of their futures. We need to make these investments now in order to stand up to the pressures that they’re going to see in the future."
Speaking to reporters after question period, Burridge said there is a debt management plan currently in place.
"But I think what we're looking to do is enhance that, given our fiscal situation right now, we're taking on more debt than we have in the past, so I think it's reasonable to expect that we would make that more robust."
Burridge did not provide a date for when Islanders can expect to see that debt strategy.
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