BREAKING: Doug Ford announces Ontario gas tax cut to be extended another year
by 5.7 cents per litre in the summer, which was set to expire on Dec. 31.
“Tomorrow, we will introduce legislation to extend the gas tax cut for another year, delivering some needed relief for drivers and businesses for one more year,” Ford said at a Sunday news conference in north Etobicoke.On July 1, gas prices dropped around 11 cents overnight in the Toronto-area, partially attributed to the tax cut coming into effect.“Extending the tax cut for an additional year will mean the average household will save $195. We know that every dollar helps,” Ford said.
Finance Minister Peter Bethlenfalvy announced in September that Ontario ended the last fiscal year with a $2.1-billion surplus, a far cry from the $33-billion deficit projected in the budget, thanks to inflation and a strong economy. “Ontario, like the rest of the world, will continue to face economic challenges in the year ahead. This is why our government’s Fall Economic Statement will take a responsible approach to advance our plan to build while also being ready for any challenge that may come our way,” Bethlenfalvy said.Ontario Premier Doug Ford speaks inside the legislature, in Toronto on Wednesday September 14, 2022. The province will release its fall economic statement on Monday.
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