Trade gap, deficit hard to overcome
Premier Wade MacLauchlan delivered his state of the province address to the Rotary Club of Charlottetown but it was mainly a cheerleading exercise. He listed five areas to boost our economy but it was wishful thinking at it’s best.
The province has a trade gap of $ 1.3 billion and still has a $ 33 million deficit but the premier is forecasting a balanced budget for 2016 because he believes our economic growth will out preform the nation.
This is good to hear but not very realistic since we can’t recruit enough workers to keep fish plants open so we are forced to bring in temporary foreign workers to do the job. The premier plans on leading Island companies on two trade missions this year but so is every other province in Canada. The competition is increasing and even with the low dollar I’m doubtful that P.E.I. can overcome the trade gap and balance the budget. David Steeves, Charlottetown