2022-2023 Provincial Budget Recognizes Implications for Recovery
Windsor, NS (February 25, 2021) – The Atlantic Chamber of Commerce is expressing support for the 2022 - 2023 Prince Edward Island budget tabled on February 24, 2021.
The budget featured continued support for business to aid recovery, targeted support for the tourism sector, support for affordable housing, and a reduction in deficit spending. The budget also featured an increase in the basic personal amount which will put more money in the pockets of Islanders.
“The P.E.I 2022/2023 budget reflects the ongoing effort to rebuild the economy” said Sheri Somerville, CEO, Atlantic Chamber of Commerce. “Our members are encouraged by targeted supports committed for sectors that need a boost as well as commitments to affordable housing initiatives which will help bolster the economic growth.”
Government does have an opportunity to improve economic conditions for business by prioritizing the reduction in regulatory burden on businesses. Decreasing regulatory burden is one of the most cost-effective ways to increase efficiency and productivity within an economy. With other provinces prioritizing economic growth through red tape reduction, it is important that P.E.I takes a similar approach to ensure that it remains a competitive business environment.
The Atlantic Chamber and our members recognize the long road that Islanders have travelled to get to this point in the pandemic. The budget signals to businesses that Government recognizes that key investment is needed for economic growth and that the private sector is integral in the rebuilding of the economy. The Atlantic Chamber remains a willing partner for Government as we continue to work together to reach the end of the pandemic and rebuild for the future.
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About the Atlantic Chamber – The Voice of Atlantic Canadian Business
The Atlantic Chamber of Commerce (ACC) is the largest accredited business organization of influence in Atlantic Canada representing more than 16,000 businesses and their 300,000 employees through its network of 90 Chambers of Commerce in the four Atlantic Provinces.
For more than 125 years, ACC has served as the voice of Atlantic Canadian business and actively partners with its members and other organizations to help create a strong, vibrant, and growing Atlantic Canada. ACC does this through strategic advocacy that shapes policy issues that impact business, the delivery of high-value programs and services to support business, and the facilitation and promotion of initiatives for business that contribute to sustainable economic growth in the region.
For more information:
Patti Colson
Manager, Communications & PR
