P.E.I. finance minister says balanced budgets could take six years

P.E.I. Finance Minister Jill Burridge says government projections suggest a return to balanced budgets will take "closer to six years," after Premier Rob Lantz told the legislature the province had a three-year plan. Lantz later told The Guardian he may have misspoken, calling it a multi-year effort. A fall fiscal update projects a $459-million deficit this year, $49 million more than budgeted. Burridge cited pressures from health care, education, population growth and climate-related costs. The province is targeting a five per cent spending reduction in the spring 2027 budget. Opposition parties and some Progressive Conservatives have criticized the growing deficit.