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ANDY WALKER: P.E.I. must address financial red flags

Get your financial house in order.

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That was the blunt warning auditor general Darren Noonan issued to the Rob Lantz government when he released his 2025 annual report in late February.

Noonan’s biggest concern centres around the increasing net debt, which grew by 45 per cent, or $904.3 million, to sit at $3.03 billion by the end of the 2024-25 fiscal year. This is by no means a situation unique to P.E.I. Governments across the country have been dealing with one crisis after another over the last several years — natural disasters like hurricane Fiona, COVID-19 and the economic uncertainty U.S. President Donald Trump generates almost daily.

The public looks to governments to help in a way their ancestors didn’t and that help usually requires large sums of money. Paying the interest charges on that borrowed money is one of the largest items in the provincial........

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