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November 2, 2011
For immediate release

Province returns to traditional levels of capital spending

Finance and Energy

The 2012-2013 Capital Budget tabled in the legislature today will return spending to traditional levels after three years of stimulus spending, says Finance and Municipal Affairs Minister Wes Sheridan.

“Our five-year capital plan is on budget, on target, and things are proceeding as planned,” said Minister Sheridan. “The stimulus budgets achieved what we set out to do.”

Minister Sheridan said the stimulus spending ensured the economy continued to perform at acceptable levels while making needed investments in modern facilities in health, education, and roads and bridges throughout the Island. As a result, 4,400 full-time jobs were created or sustained, $31 million was added to provincial revenues and gross domestic product grew by $171 million as a direct result of these initiatives.

The 2012-2013 Capital Budget provides funding to modernize health-care facilities, construct new schools, and invest in roads and bridges.

“The first budget in this mandate reflects our firm commitment to good government and fiscal responsibility over the next four years,” said Minister Sheridan.

Copies of the 2012-2013 Capital Budget are available at Island Information Service, 368-4000, 11 Kent Street, or on the provincial government website at www.gov.pe.ca/budget.

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Media Contact: Angela Court
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