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Statement from Gord McNeilly on IRAC maximum rental increase decision

Updated: Oct 11, 2022

The PEI Liberal Caucus points to the Dennis King government's inability to work collaboratively and proactively on the housing crisis in Prince Edward Island as a direct correlation to the announcement made by IRAC today regarding rental increases for 2023.

The government has quickly come out against this increase vowing to explore options to intervene. However, IRAC is an independent body. Government should be focusing on efforts to support those the increases will affect, given the lengthy legal hoops intervening will take, with no guaranteed benefit.

A proactive government would have seen an increase like this coming given the economic position of our province this past year and worked with stakeholders on each side to find a common ground with as minimal hardship as possible.

There needs to be balance on both sides of the equation for tenants and landlords with respect given to the economic times we find ourselves in. The announcement does not provide balance.

The decision by IRAC will cause further hardship to Island tenants who are already struggling to cope with the current economic pressures.

Now, we are left waiting on the reactive King government to address a problem far more difficult than it needed to be had the appropriate steps been taken sooner.

Gord McNeilly, MLA PEI Liberal Housing Critic

Charlottetown – West Royalty


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