December 18, 2008
For immediate release
Minister Sheridan Encouraged by Meeting with Federal, Provincial and Territorial Finance Ministers
He said he was pleased to see the Ministers commit to working together to ensure stimulus measures resulting from the upcoming federal, provincial and territorial budgets will be of the most benefit to Canadians. Minister Sheridan says he believes the Ministers’ agreement on some key principles will make a real difference to Islanders, especially the readiness to accelerate infrastructure spending that is flexible, fast, accountable and recognizes regional priorities, including investments to support social housing.
“I was especially impressed with the commitment around the table to make sure we are spending our infrastructure dollars in ways that recognize our regional needs,” said Minister Sheridan. “I made it clear that Prince Edward Island will be pushing hard for further stimulus for the agriculture and fishery sectors, as well as further support for electronic health records through the Canada Health Infoway.”
Minister Sheridan says the discussions illustrated that Prince Edward Island is on the right track with its strategic infrastructure spending plans. “We all agreed that the right kind of spending will strengthen our economy down the road,” said Minister Sheridan. “I made it known that we are extremely interested in having the Atlantic Gateway initiative move forward in the very near future and that we will work with the Honourable Peter Mac Kay to do just that.”
Over the next five years, the Island’s capital budget is expected to create 5,043 jobs, generate $39.3 million in new provincial tax revenues and add $278 million to the provincial gross domestic product (GDP).