A temporary tax cut intended to help Ontario residents save money at the pumps will be extended for another year, the province's premier announced on Sunday.
Doug Ford said his government intends to table legislation that would leave the tax break that cut gas prices by 5.7 cents a litre in place until the end of 2023. The cut first went into effect on July 1 and was originally due to expire on Dec. 31.
Ford cited inflation and global economic uncertainty as reasons behind the extension, which will also maintain a 5.3-cents-per-litre reduction in the price of diesel fuel. "Ontarians are getting crushed by the skyrocketing cost of groceries, housing and utility bills, and they need more help," interim Leader Peter Tabuns said in a statement.
The legislation enshrining the tax cut is due to be tabled on Monday alongside the province's fall economic statement.A report two weeks ago from the Financial Accountability Office projects budget surpluses for the foreseeable future.
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