Charlottetown, PEI
December 19, 2025

Liberal Party responds to the concerning $367.4 million deficit projected in fall fiscal update  

The Liberal Party of Prince Edward Island is again calling on the government for an immediate plan to tackle the provincial debt and deficit as the fall fiscal update projects a staggering deficit of $367.4 million - nearly double the $184 million that the Conservatives initially estimated in April. 

“After months of speculation and demands from the Official Opposition and Islanders, the Conservatives finally released a fall fiscal update. We now understand why they were so late releasing it because it is dire,” said Robert Mitchell, Leader of the Liberal Party. “We are in this position now because the Conservatives have had our government on auto-pilot while they figure out their internal struggles for leadership.” 

The fall fiscal update shows that the Conservative government is incapable of planning or prioritizing spending. The fiscal update also shows that the government is expecting our debt to increase by $172.4 million dollars, an unstable amount that Islanders will be paying the price for quite some time. Under the previous Liberal government, the books were balanced and debt was being paid down. The Conservatives have squandered that progress. Further to these concerns, last week Cabinet approved a $60 million dollar overdraft protection from RBC, another indication that government leadership, vision, transparency and accountability has been absent this year.

“Generations of Islanders risk being faced with the consequences of this government’s reckless spending,” Mitchell said. “We need to see the premier, any premier, and the finance minister answer the Auditor General’s calls for a plan to tackle the province’s billions of dollars in debt before it’s too late. The Conservatives often talk about securing our future – the only thing they are securing is a high debt load to be paid by future generations of Islanders. Its concerning, it’s unfair, and its uncalled for.” concluded Mitchell.
 

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