Charlottetown, PEI— In an effort to make Prince Edward Island more environmentally sustainable, the Island has announced its new government Capital Budget, outlining $212 million in planned spending on vital infrastructure for 2022-2023. The budget includes a $7.5 million upgrade for ventilation systems in schools and $1.7 million to benefit families and seniors by investing in retrofitting provincial housing infrastructure.
“Over the past 19 months, Islanders have shown incredible creativity and resiliency to pandemic challenges, which has allowed our province to be in an enviable economic position where we can focus on the future successes of this Island,” said Dennis King, premier of P.E.I.
The Capital Budget investment will look to help the Island invest in the wellbeing of Islanders and continue to build local communities and economies. This includes $60.7 million to invest in social housing over five years, including $35 million in new spending, resulting in over 100 new units. As well, $40.3 million will be invested to ensure that all new school buses will be electric, which is the first time the province has committed to purchasing only electric school buses.
“This budget outlines our commitment to bringing our economy back to a position of growth and investing in key infrastructure that will define our Island as we continue to offer the services that Islanders need and deserve,” said Darlene Compton, finance minister.
The total for the current five-year plan will see a record planned spending of over $840 million, and some of the additional highlights within the Capital Budget include:
$105.8 million for the construction of the new Sherwood Elementary and Stratford High School, expansions and investments at École François-Buote and École Évangéline, and further renovations at Elliot River and Montague Schools.
Over $6 million to continue the province’s commitment to healthier communities through improvements to active transportation across the Island, including PEI’s Confederation Trail system.
$2.5 million will go towards a new buffer zone buyback and restoration project that will increase greenspaces and benefit Island ecosystem, and $1 million will support the province’s efforts to plant over one million trees a year, an important goal of reducing PEI’s greenhouse gas emissions.