November 13, 2022 12:18 PM
Ontario Premier Doug Ford announced that the province will extend the gas tax relief for another year.
Legislation passed earlier this year lowered the gasoline tax by 5.7 cents a liter.
In an announcement on Sunday morning, Ford said it would introduce new legislation on Monday for an extension.
The day before, the province will release its fall economic report.
“At a time when inflation is at its highest level in more than four decades, we know households are feeling the pinch from rising prices for everything from gas to groceries,” Premier Doug Ford said. “To continue delivering real relief, our government is proposing to extend the petrol tax relief for another year to put more money back in people’s pockets.”
The proposed extension of the natural gas and fuel tax rate cut for another year between July 1, 2022 and December 31, 2023 would save Ontario households an average of $195.
Finance Minister Peter Bethlenfalvy said, “By proposing an extension to the gas and fuel tax cut, our government is helping Ontario families keep more money in their pockets during a time of economic uncertainty. “Ontario, like the rest of the world, will continue to face economic challenges in the year ahead. That’s why our government’s fall economic statement will take a responsible approach any challenges that arise.”
If passed, the proposed legislation would extend the current gas and fuel tax breaks through December 31, 2023.