The Honourable Allen F. Roach, PEI’s Minister of Finance and Chair of the Treasury Board, presented the province’s 2015 budget on June 19, 2015. This year’s budget focuses on enhancing the environment for economic growth, encouraging entrepreneurs and providing investments in front-line services. In addition, the deficit for 2015-2016 is projected to fall to $19.9 million, an improvement of almost $20 million when compared to the 2014-2015 budgeted deficit.
This year’s budget included one commodity tax change, which is expected to generate an additional $2 million in revenue for the province. Effective midnight, June 19, 2015, the tobacco tax will increase for both cigarettes and other tobacco products. Specifically, the tax per cigarette will increase by 2.5 cents and the tax for other tobacco products will increase by 4 cents per gram.
Further information on PEI’s 2015 budget may be found on the province’s web site at: