Call for Immediate Release of Overdue Debt Management Plan

Today, Liberal Leader Robert Mitchell and Hon. Hal Perry, MLA for Tignish–Palmer Road and Opposition Finance Critic, called on the Government of Prince Edward Island to immediately release its long-promised debt management plan.

“The continued avoidance tactics by Premier Lantz — including delaying the sitting of the Legislature for the second time in a year — should concern every Islander,” said Mitchell. “The Legislature is where government is held accountable, where plans are presented, and where the public’s finances are scrutinized. Instead of showing leadership, the Premier is once again choosing to avoid accountability.”

Islanders know that the province is facing a financial crossroads. The fall fiscal update projected a staggering deficit of $367.4 million, nearly double the $184 million deficit that the Conservatives initially estimated in April 2025, while the province’s Auditor General continues to raise alarm about the province’s $3.7 billion in long-term debt.

The Lantz government promised Islanders a debt management plan late last year to tackle the debt, but that promised plan has yet to be released. The most recent quarterly financial update was held until after the District 2: Georgetown-Pownal byelection, raising further questions about transparency and timing.

“Islanders deserve honesty and a clear path forward,” said Perry. “The province’s debt has now surpassed $3 billion. Government committed to a plan to manage that ballooning debt, yet months later we are still waiting. Instead of focusing on political preservation, they should be focused on protecting the province’s financial future.”

Perry added that postponing the release of key financial updates undermines public confidence in Government’s ability to tackle the debt. “The lack of a debt management plan is not just a missing document, it is a missing roadmap for the province’s financial future,” Perry said. “Families and businesses are being asked to make tough financial decisions every day. They deserve the same level of transparency and discipline from their government.”

The Prince Edward Island Liberal Party has a strong record of responsible fiscal management — balancing budgets and delivering multi-million-dollar surpluses while maintaining the services Islanders rely on. Both Mitchell and Perry served in the previous Liberal government during that period of fiscal stability.

“It’s time for Premier Lantz to get back to work,” Mitchell concluded. “Future generations should not be left carrying the burden of a lost year consumed by political maneuvering. Prince Edward Island cannot afford continued delays. Islanders and business owners deserve a debt management plan now so they know where we stand.”