Prince Edward Island delivers budget with estimated deficit of $39.6M

CHARLOTTETOWN – The government of Prince Edward Island is projecting a deficit of $39.6 million for the 2014-15 fiscal year in a budget that focuses on fiscal restraint.

Finance Minister Wes Sheridan says the $1.6 billion budget stresses the importance of living within the province’s means in order to reach the goal of a surplus in 2015-16.

New spending measures include a program to provide free eye exams and glasses to some children in kindergarten.

Another $400,000 has been set aside to buy insulin pumps and related supplies for children with Type 1 diabetes.

Sheridan says the deficit for the 2013-14 fiscal year was pegged at $51.9 million.

Highlights of the Prince Edward Island 2014-15 budget

• $1.6 billion budget for 2014-15 with a deficit of $39.7 million.
• Net debt of $2.17 billion by March 31, 2015. That’s about $14,863 for every man, woman and child in the province.
• Finance Minister Wes Sheridan says he expects the government to report a small surplus in 2015-16.
• $400,000 to be spent for the purchase of insulin pumps and related supplies for children with Type 1 diabetes.
• An additional $775,000 to be spent to help run the day surgery department at the Queen Elizabeth Hospital in Charlottetown.
• A new program to be launched to provide free eye exams and glasses for eligible kindergarten children.