Today, the Chamber submitted our annual pre-budget recommendations to entitled Building on Momentum: Supporting a Thriving Island Economy, to the Province of PEI ahead of their consultation deadline.
Our submission calls for seven key recommendations, including:
- Partner with the private sector to fund a multi-sector workforce strategy with targets for economic growth, including business and community-led solutions.
- Provide greater incentives and support to the private sector as businesses develop and provide upskilling and reskilling training to address Canada’s skills shortages.
- Ensure provincial supports are in place to continue with aggressive immigration targets to match the federal government’s effort by revisiting PEI’s population growth strategy, including recruitment, integration and retention of immigrants that align with workforce needs.
- Maintain funding for immigration support services, such as PEI Connectors and IRSA PEI, and continue supporting the funding process of employer EDI training programs, such as Lead the Shift.
- Increase the Basic Personal Amount to $13,000 by 2024 and tie subsequent increases to the Consumer Price Index.
- Re-evaluate the provincial income tax bracket model to better align with the Atlantic provinces and leave more money in the pockets of Islanders, especially low-income Islanders.
- Reduce rental unit restrictions and work with developers to pursue a housing strategy that fosters development, while directly supporting those who are experiencing housing challenges with alternative measures.
These recommendations were formulated based on feedback of the Chamber membership, Advocacy Committee, and Board of Directors.
Click here to read our full submission.