The tax cut, which took effect on July 1 and expires on December 31, reduced pump prices by 5.7 cents a litre. At a news conference Sunday morning in Toronto, Ford announced plans to file legislation that would extend the cut until the end of 2023. Ford said the expansion will give people “some much-needed relief at the pumps” and that the average household can expect to save about $195 over the course of the year. In a statement, Ontario NDP Interim Leader Peter Tabuns criticized the move, saying it will “leave people struggling.” “Ontarians are being crushed by the rising cost of groceries, housing and utility bills, and they need more help,” Tabuns said. “We should bring back and expand effective rent control. We should double welfare rates. We should help people cut their gas bills. We should take on greedy companies that use the guise of inflation to to exterminate the people.” The announcement comes a day before the province is due to release its fall financial statement. Ontario is in good financial shape. A report two weeks ago from the province’s Financial Accountability Office predicts budget surpluses for the foreseeable future. The finance watchdog 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.
