FOR IMMEDIATE RELEASE
January 17, 2025
Long Overdue Fall Fiscal Update Shows Record Spending with Few Tangible Improvements for Islanders
Charlottetown, PE – Peter Bevan-Baker, Finance critic for the Third Party, is raising serious concerns about the province’s 2024-2025 Fall Fiscal and Economic Update, which outlines record spending on healthcare and social initiatives, yet fails to translate into tangible improvements for Islanders.
Bevan-Baker has previously expressed concern over the delayed release of the update, which is supposed to provide timely transparency on the province’s financial position.
“The government’s fiscal update reveals troubling signs for our province’s finances, with the deficit increasing to $129.5 million — nearly 50% higher than projected in the February budget,” said Bevan-Baker. “With healthcare in crisis and the cost of living making it impossible for many Islanders to make ends meet, this fiscal update raises a crucial question: where is all the money going?”
The update projects an increase of $38 million in government spending compared to the February budget, with additional spending largely going to Health PEI and Social Development. Despite these significant investments, Islanders continue to face long wait times for medical care, recruitment shortfalls for healthcare workers, and rising costs for essentials like housing and food.
“It’s deeply concerning that we’re seeing unprecedented spending, but Islanders aren’t feeling the benefits,” said Bevan-Baker. “Healthcare remains in disarray, with emergency room closures, service reductions, and system overcapacity, while many families struggle to pay rent or put food on the table.”
The delay in the release of the update points to a growing lack of fiscal responsibility and transparency from the King government towards the people it serves.
“The King government needs to answer to Islanders who are wondering why record levels of public spending are leaving them worse off. It’s time for a shift toward accountability, sustainability, and outcomes that prioritize people, not inefficiency and mismanagement,” said Bevan-Baker.
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For media inquiries, please contact:
Katie Rankin
Chief of Staff
Office of the Third Party
Tel: (902) 213-6378
Email: kerankin@assembly.pe.ca