Doug Ford Extends Gas Tax Ahead Of Fall Economic Statement

The Ontario government cut the gas tax by 5.7 cents per liter over the summer, which ended Dec. 31.
“Tomorrow, we will introduce legislation to extend the gas tax cut for another year, providing some much-needed relief for drivers and businesses for another year,” Ford said at a news conference Sunday.
When the tax cut was introduced, Ford said he would consider extending it if inflation remained high.
“Extending the tax cut for an additional year will mean the average household will save $195.  We know every dollar helps,” Ford said.
His remarks come a day before the province prepares to release its autumn financial statement.
A report two weeks ago revealed that 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 2027-2028.
Finance Minister Peter Bethlenfalvy announced in September that Ontario ended the last fiscal year with a $2.1-billion surplus, far short of the $33-billion deficit projected in the budget, thanks to inflation and a strong economy.
With files from The Canadian Press.

title: “Doug Ford Extends Gas Tax Ahead Of Fall Economic Statement " ShowToc: true date: “2022-12-03” author: “James Brown”

The Ontario government cut the gas tax by 5.7 cents per liter over the summer, which ended Dec. 31.
“Tomorrow, we will introduce legislation to extend the gas tax cut for another year, providing some much-needed relief for drivers and businesses for another year,” Ford said at a news conference Sunday in north Etobicoke.
When the tax cut was introduced, Ford said he would consider extending it if inflation remained high.
On July 1, natural gas prices fell about 11 cents overnight in the Toronto area, in part because of the tax cut that took effect.
The legislation also reduced 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 every dollar helps,” Ford said.
His remarks come a day before the province prepares to release its autumn financial statement.
A report two weeks ago revealed that 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 2027-2028.
Finance Minister Peter Bethlenfalvy announced in September that Ontario ended the last fiscal year with a $2.1-billion surplus, far short of 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 coming year.  That’s why our government’s Autumn Economic Statement will take a responsible approach to drive forward our plan to build, while being ready for any challenges we may encounter,” said Bethlenfalvy.
With files from The Canadian Press.