State of P.E.I. economy explored at premier's forum

A forum to lay out the state of the P.E.I. economy and to solicit public comments was held by Premier Wade MacLauchlan Wednesday morning.

About 50 people attended the meeting, where MacLauchlan pointed out several positive economic signs — GDP growth that's outpacing the national average, a high level of business confidence and growing international export sales that, for the first time in 2014, exceeded $1 billion.

"There's a moment that if we act strategically and act together, we could do something really spectacular for new growth of the Prince Edward Island economy," said MacLauchlan.

But then there were the reality checks.

Even with P.E.I.'s exports, there's still a heavy reliance on imports, which has led to a $1.3 billion trade deficit.

Then there's the province's shrinking working-age population and the reality that government is in debt and continues to spend more than it brings in.

The premier opened the floor up to the public for suggestions.

"Tourism hasn't really been included as any more than a footnote in provincial economic strategies, and it's time to put an end to that," said Matthew Jelley, owner of Maritime Fun Group.

Listening opportunity

Craig Mackie, executive director of the PEI Association for Newcomers to Canada said, "There's a tremendous entrepreneurial spirit with a lot of the newcomers who've arrived here.  We need to have them sitting here."

Erin McGrath-Gaudet, P.E.I. director of the Canadian Federation of Independent Business, said Island businesses need to hear the upshot on various trade missions.

"That information is not coming back about the opportunities to the community as a whole, not just the people you may be sitting around a table with," she said.

Earlier in the week, the P.E.I. NDP called the forum nothing more than a campaign opportunity for MacLauchlan.

But MacLauchlan says it's more of a listening opportunity and maintains the board and similar forums will help develop his government's economic policies and the next provincial budget if he and the Liberals hold onto office.

"I certainly have heard things here today that I would expect will influence government policy going forward," he said.

The premier says there won't be a new budget until after the expected spring election.