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COMMENTARY: P.E.I.’s debt problem is about more than spending

As a builder and developer, I often explain to clients that a smaller house can cost more per square foot than a larger one. Even the most modest home still needs a kitchen, a bathroom, plumbing, electrical systems and a foundation. Some costs are simply structural.

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Prince Edward Island faces a similar reality. We are a small province, but we still need hospitals, roads, schools and public services. With a population of just over 170,000 people, we carry all of the same governance responsibilities as much larger provinces, but with a far smaller tax base to support them. This helps explain why debt pressures feel more painful here than elsewhere, and why it’s more urgent than ever that we listen to P.E.I.’s auditor general, Darren Noonan, as our debt continues to climb.

But when it comes to the debt problem, scale and spending alone do not tell the whole story.

Another important factor is the role the government chooses to play in the economy. This is particularly true when it comes to real estate development and commercial projects. In my view, this is an area where well-intentioned public investment has too often led to disappointing long-term outcomes and huge financial losses.

Atlantic Technology Centre

A telling example is the Atlantic Technology Centre (ATC) in downtown Charlottetown. Conceived during the optimism of the late-1990s technology boom, the project aimed to position Prince Edward Island as a hub for innovation and digital growth. The vision was understandable. Many provinces........

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