The day after the budget brought a big infusion of money for P.E.I., one not mentioned in Thursday’s announcement.
Revenue minister Gail Shea said there’s $400 million for infrastructure projects for P.E.I. that was not detailed in Thursday’s budget.
"A guarantee of $25 million a year, for 10 years, so it’s $250 million guaranteed for infrastructure," said Shea.
"On top of that there’s a base fund that’s attached to the gas tax as well and that’s $15 million a year that comes to Prince Edward Island, which will also be extended for 10 years. So it’s a total of $400 million guaranteed to Prince Edward Island for infrastructure spending over the next 10 years. It’s quite significant."
Already, a number of communities have their eyes on that federal funding.
Bruce MacDougall, president of the Federation of Prince Edward Island Municipalities, said he had been hoping to secure 20 years of funding. Still, he said the announcement is welcome news.
"The [Federation of Canadian Municipalities] asked for a 20-year commitment, but we'll take this. And it shows that by giving the 10-year commitment that at least the government looks favourable to us and are willing to work with us. So it's a great start," said MacDougall.
Shea said the provincial government will decide which projects will receive funding but said the province has indicated a priority will be a third electricity cable to the mainland at a cost of more than $80 million.
The existing cables are 34 years old, and have an expected lifespan of 40 to 50 years.
"The infrastructure costs a lot of money as well. If you just take the cable for example — and we’re not sure what the final cost for that will be — but that’s a significant amount of money for something that we absolutely need. We need to upgrade our bridges and our roads so this will give the province the ability to do that," said Shea.
P.E.I.Finance Minister Wes Sheridan said the federal budget doesn't change his budget coming down on Wednesday.
"We’ve got a solid three-year plan out there and nothing that was presented last night — neither positive or negative — would impact the way that we’re going to go forward," he said.