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PEI PC MLA District 18 Rustico-Emerald

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You are here: Home / Issues / PEI debt is too high with no sign of coming down – where does taxpayer money go?

PEI debt is too high with no sign of coming down – where does taxpayer money go?

January 21, 2016 by Leave a Comment

“Our debt is too high with no sign of coming down”

“I want to know where all taxpayer money goes”


 

Notes

 

References

  • What is the gross debt of PEI?
    • $5.499 Billion total liabilities In 2012
      • $2.117 Billion Gross Debt,
      • $0.038 Billion Debt Guarantees,
      • $0.787 Billion Contingent Liabilities and Contractual Commitments,
      • $2.558 Billion Program Obligations (Fraser institute 2014 http://www.assembly.gov.nt.ca/sites/default/files/td_123-175.pdf)
      • $2.7 billion Gross Debt Guardian December 17th, 2014
  • What is the net debt of PEI? (gross debt minus assets)
    • $2.15 Billion (Budget Estimates 2015-16 p.164)
  • How much do we receive in equalization payments from the federal government?
    • From Government of Canada 2014/2015 Budget
      • Core Funding = $542,480,000
        • Equalization 359,821,000
        • Canada Health Transfer 131,225,000
        • Canada Social Transfer 51,434,000
      • Non Core Funding = $90,846,600
        • Labour Market Agreements 30,567,700
        • Base Funding for Infrastructure 25,000,000
        • Federal Transitional Assistance (HST) 0
        • Infrastructure – Programs 11,415,000
        • Housing Trusts 4,617,000
        • Agriculture Support Programs 4,359,500
        • Minority and Second Language 2,622,300
        • Crop Insurance 1,650,000
        • Young Offenders Services 1,615,000 1,615,000
        • Rehabilitation Programs 1,376,000
        • French Services Agreement 1,068,800
        • Wait Time Reduction 0
        • Student Loan Administration 876,000
        • Statutory Subsidy 684,500
        • Other 4,994,800
    • TOTAL REVENUE FROM GOVERNMENT OF CANADA $633,326,600
  • What is the total amount of the PEI budget?
    • PEI Full Budget Estimates 2015-16 (PDF) $1,668.7 million in expenditures
    • PEI Budget Highlights 2015-16 (PDF) $1,668.7 million in expenditures
    • PEI Capital Budget 2016-17 (PDF)
    • CBC – November 17, 2015 – P.E.I. projected deficit grows to $32.9 milion
    • 2015-16 Budget Summary as of Nov 17 2015
    • What is the budget allocation by area? 2015-16 Budget numbers.  Note that Interest Charges on Debt are the 3rd largest of the 26 areas PEI spends money.
      • 1) Health PEI = $586,577,300
        2) Education and Early Learning = $235,979,300
        3) Interest Charges on Debt = $127,016,400
        4) Workforce and Advanced Learning = $120,506,000 (includes $38,991,700 to UPEI and $29,850,900 to Holland College)
        5) Transportation, Infrastructure and Energy = $108,981,300
        6) Family and Human Services = $94,205,200
        7) Finance = $70,330,000
        8) Amortization of Tangible Capital Assets = $65,671,100
        9) Employee Benefits = $55,632,800
        10) Justice and Public Safety = $49,444,100
        11) Agriculture and Fisheries = $33,039,500
        12) Innovation PEI = $26,403,100
        13) Communities, Land and Environment = $20,271,100
        14) Tourism PEI = $14,674,600
        15) Health and Wellness = $12,540,900
        16) Executive Council = $8,673,800
        17) PEI Public Service Commission = $7,320,000
        18) Culture = $6,766,900
        19) Legislative Assembly = $6,422,800
        20) General Government = $6,300,000
        21) Employment Development Agency = $5,231,500
        22) Economic Development and Tourism = $2,873,800
        23) Auditor General = $2,056,700
        24) Island Regulatory and Appeals Commission = $1,200,300
        25) Interministerial Women’s Secretariat = $438,600
        26) Council of Atlantic Premiers = $188,400
  • How many people are employed directly by the PEI provincial government?  Was is the breakdown by department?
  • What is the GDP of PEI?
  • What is the dollar value of PEI exports?
  • What is the employment breakdown of PEI workers by industry?
  • Over the last 7 years what are the budget, deficit and debt numbers by year? – love to put this in a graph
  • How much do we pay each year in interest on the PEI debt?

Related

Filed Under: Finance Tagged With: budget, debt, Dec 2015 Chili and Chat, deficit, money

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