Cost of Poverty in Prince Edward Island (2011)

December 7, 2011
625.04 KB13 pages

This report estimates that the direct cost of poverty for the PEI government is just under 100 million dollars per year — and that these costs account for 6.7% of the 2009/10 PEI government budget. When the costs to government are added to the broader costs to the economy, the total cost of poverty for the province is $315 million dollars, which is equivalent to 7.6% of Prince Edward Island’s GDP. This corresponds to $2,700 per person, per year.

This report underlines the urgency for Maritime governments to act now to eliminate poverty, as investing in a comprehensive plan to alleviate poverty could cost as little as half as much as the quantifiable costs of poverty.