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PEI government tables budget; set to introduce HST by next April

Prince Edward Island Finance Minister Wes Sheridan.

Heather Taweel/Heather Taweel/The Canadian Press

Prince Edward Island's Liberal government has announced it will introduce the harmonized sales tax in a $1.58-billion spring budget.

Finance Minister Wes Sheridan says negotiations have begun with the federal government to introduce a 14 per cent HST by next April.

That would be down from the current 15.5 per cent combination of the GST and PST.

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The province is forecasting a nearly $74.9-million deficit — down from $78.6-million in the fiscal year that ended in March.

But the province's net debt is expected to climb to $1.97-billion by March 2013, or about $14,066 for every man, woman and child in the province.

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