Ontario gas tax cut to be extended for another year
Ontario Premier Doug Ford announced he is set to extend the province’s gas tax cut for another year.
The Ontario government slashed prices at the pumps 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.
When the tax cut was introduced, Ford said he would consider extending it if inflation remains high. On July 1, gas prices dropped around 11 cents overnight in the Toronto-area, partially attributed to the tax cut coming into effect.
The legislation also cut the cost of fuel, which covers diesel, by 5.3 cents per litre.
“Extending the tax cut for an additional year will mean the average household will save $195. We know that every dollar helps,” Ford said.
His remarks come a day before the province is set to release its fall economic statement.
A report two weeks ago revealed Ontario is in good financial shape.
The province's Financial Accountability Office projects a $100-million surplus at the end of this fiscal year, and an $8.5-billion surplus in 2027-28.
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.
With files from The Canadian Press.
CTVNews.ca Top Stories
Canada's most wanted fugitive arrested in P.E.I. in connection with Toronto homicide
A suspect in a fatal shooting in Toronto’s east end last summer has been arrested in Charlottetown, just one week after he topped a list of Canada’s most wanted fugitives.
BREAKING Federal employees will be required to spend 3 days a week in the office
Starting in September, public servants in the core public administration will be required to work in the office a minimum of three days a week. The Treasury Board Secretariat says executives will need to be in the office four days per week.
Concerns about plexiglass prompt inspections at some Loblaws locations in Ottawa
Inspections are underway at more than one Loblaws location in Ottawa after complaints were filed about tall plexiglass barriers.
OPP officer said 'someone's going to get hurt' before wrong-way Hwy. 401 crash
As multiple Durham police cruisers were chasing a robbery suspect on the wrong side of Highway 401 Monday night, an Ontario Provincial Police officer shared his concerns, telling a dispatcher, "Someone's going to get hurt."
Poilievre unrepentant over calling Trudeau 'wacko' as his MPs say Speaker should resign
An unrepentant Pierre Poilievre returned to the House of Commons on Wednesday to pepper the prime minister about his drug decriminalization policies after being booted the day prior for refusing to take back calling Justin Trudeau 'wacko' over his approach to the issue.
Five human skeletons, missing hands and feet, found outside house of Nazi leader Hermann Göring
Archeologists have unearthed the skeletons of five people, missing their hands and feet, at a former Nazi military base in Poland.
Toddler of Phoenix first responder dies after bounce house goes airborne
A two-year-old child died after a strong gust of wind sent the bounce house he was in airborne and into a neighbouring lot in central Arizona, the Pinal County Sheriff's Office said.
Plane overshoots runway at airport in St. John's, N.L., no injuries reported
Investigators from the Transportation Safety Board of Canada are headed to St. John's, N.L., after a plane overshot a runway at the city's airport this afternoon.
A teen was found buried in a basement in New York. An engraved ring helped police learn her identity two decades later
For more than two decades, the unknown victim was nicknamed "Midtown Jane Doe" because she was found in the Hell's Kitchen neighbourhood of New York City. But this week, investigators finally revealed her identity.