Doug Ford said his administration plans to introduce legislation that would leave in place a tax break that cuts gas prices by 5.7 cents a liter through the end of 2023. The cut first went into effect on Jan. July and was originally due to expire in December. 31. “We know every dollar helps,” Ford said, speaking at a gas station in Toronto’s west end. “And this gas tax reduction is another way we’re delivering savings to Ontario households.” Ford cited inflation and global economic uncertainty as reasons behind the extension, which will also maintain a 5.3 cents per liter cut in the price of diesel fuel. Ford estimated that the tax breaks will save households an average of $195 over the entire 18-month course of the price cut. The province’s gas and diesel tax rate will remain at 9 cents per liter until the end of 2023. New Democrats said the gas tax cut won’t help much. “Ontarians are being crushed by the rising cost of groceries, housing and utility bills, and they need more help,” said interim leader Peter Tabuns. “Instead of helping people get the basics, like food and heat, Doug Ford is doubling down on a gas tax regime that doesn’t even guarantee drivers will see that much money in savings.” Legislation enshrining the tax cuts is set to be tabled Monday alongside the province’s fall financial statement. Recent findings from Ontario’s financial watchdog show the province is in good financial shape. A report two weeks ago from the Financial Accountability Office predicted budget surpluses for the foreseeable future. It projects a surplus of $100 million at the end of this fiscal year and a surplus of $8.5 billion in 2027-2028. Ford disputed those numbers on Sunday. “This is a snapshot in time,” he said. “It’s just not accurate.” Finance Minister Peter Bethlenfalvy announced in September that Ontario ended 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.
