On January 22, 2021, the Chamber submitted our annual pre-budget recommendations to the Province of PEI ahead of their consultation deadline.
Our submission calls for relief or investment in seven key areas, including:
- Providing funding to businesses negatively impacted by the work-from-home transition.
- Analyzing gaps in supports and providing targeted financial aid to hardest-hit businesses, specifically those in the tourism and hospitality industry.
- Ensuring sufficient policy, resources, and capacity for the Chief Public Health Office and other government departments, so that public health and our economy can continue to co-exist.
- Enhanced supports to attract and service more population growth in response to increased federal immigration targets.
- Investing in supports for customized retraining and reskilling as the workforce and the needs of the labour market evolve.
- Increasing the PEI Basic Personal Amount to $12,000, bringing it closer to the Canadian average and keeping more money in the pockets of low-income workers.
- Lowering the small business tax rate to 1% to allow more income to recirculate in business operations.
Click here to read the Chamber’s provincial pre-budget submission, Prepare, Persevere, Prosper: Supporting a Resilient Island Economy.
Click here to watch a brief video of CEO Penny Walsh-McGuire providing details on the Chamber’s submission.