Ford government to extend gas tax cut in Ontario through 2024
Posted Mar 25, 2024 09:30:51 AM.
Last Updated Mar 25, 2024 05:47:38 PM.
The Ontario government announced it plans to extend its gas and fuel tax rate cuts until Dec. 31, 2024.
Premier Doug Ford temporarily cut the gas tax by 5.7 cents per litre and the fuel (diesel) tax by 5.3 cents per litre from July 1, 2022, to June 30, 2024.
Monday’s announcement would ensure the rates remain at nine cents per litre until the end of the year, which Premier Ford says will save Ontario households $320 on average over the two and a half years since the tax rate cuts were first introduced.
“With the federal government about to increase its costly carbon tax, it’s never been more important to provide relief at the pumps and put hundreds of dollars back into peoples’ pockets. That is why we are extending our gas tax cut,” said Premier Ford.
“I urge the federal government to join us by scrapping its planned 23 per cent carbon tax hike on April 1, 2024, which will only make life more expensive for hardworking Ontario families.”
The Ford government will introduce the proposed legislation through its 2024 spring budget, which is set to be released on Tuesday.
“Our government understands that high inflation and interest rates are hurting Ontario workers and their hard-earned paycheque,” said Ontario Minister of Finance Peter Bethlenfalvy.
“That’s why we acted early to keep costs down and will continue to support Ontario families at the pump with our latest gas tax cuts.”
Help for drivers appears set to be central to the budget, with the CBC reporting that auto insurance reforms will be a key part.
