BREAKING NEWS: Doug Ford announces Ontario gas tax cut to be extended another year.
The Ontario government cut the gas tax 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., Ford said he would consider extending it if inflation remains high. “Extending the tax cut for an additional year will mean the average household will save $195. We know that every dollar helps,” Ford said.A report two weeks ago revealed Ontario is in good financial shape.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.
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