The 2009 Capital Budget is a continuation of government’s plan to stimulate the Island economy – while simultaneously addressing the province’s infrastructure needs, says Provincial Treasurer Wes Sheridan.

One Island - Working Together, the Capital Estimates 2010 - 2011, was released today. The plan continues the stimulus budget introduced last fall to create jobs and replace aging infrastructure.

The Stimulus Capital Budget plan is expected to continue until the 2012-2013 fiscal year when the Province will return to normal spending levels.

The Minister indicated, “We are focussing on our priority areas of health and education, while continuing with improvements to the transportation infrastructure.”

The Capital Plan will provide investments of $136.7 million in infrastructure for the health care system over the next five years. Major health care projects include:

• Completion of Phase 1 of the Queen Elizabeth Hospital project;

• Replacement of the Prince Edward Home; and Summerset, Colville and Maplewood Manors;

• Renovations to the Margaret Stewart Ellis Home in O’Leary will be completed;

• Replacement of the Riverview Manor will begin.

Over the next five years, school construction and capital improvements will be completed at Three Oaks, Francois-Buote and Souris schools in addition to the Glen Stewart and Westwood renovations announced this year. During 2010-11, construction will be completed at Elm Street, Montague High, Montague Intermediate and Ecole Saint-Augustin.

Highway infrastructure will cost $229 million over the next five years, which will be used to rebuild 700 kilometres of highway along with 35 bridges.

Other capital projects which are included in the Capital Budget include:

• A further investment of $12 million in the BioCommons Research Park,

• $6.5 million allocated for a Provincial Emergency Radio System,

• $400,000 for modernizing provincial libraries,

• $12.3 million for new school buses.

“The Capital budget will allow for the creation of 1,625 jobs, new tax revenues of $11.4 million and an improvement to the Provincial GDP of $62 million in 2010-11,” the Minister said.

“These infrastructure initiatives are necessary to ensure Government can continue to provide the services Islanders deserve,” said Minister Sheridan. “The improvements to our hospitals, manors, education facilities and transportation system will serve Islanders far into the future.

One Island Working Together, 2010-2011 Capital Budget