Premier Doug Ford vowed to table legislation that would leave the tax break that cut 5.7 cents a litre in place until the end of 2023.
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.Sign up to receive daily headline news from the Calgary SUN, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
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. Ford estimated the tax breaks would save households an average of $195 over the entire 18-month course of the price reduction.Advertisement 3We apologize, but this video has failed to load.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 projects surpluses for the foreseeable future.
It’s forecasting a $100-million surplus at the end of this fiscal year, and an $8.5-billion surplus in 2027-28.“That’s a snapshot in time,” he said. “It’s just not accurate.” 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.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ontario Premier Doug Ford to make announcement on eve of fall economic statementTORONTO - Ontario Premier Doug Ford and his finance minister are set to make an announcement today.
Read more »
Ontario Premier Doug Ford to make announcement on eve of fall economic statementOntario Premier Doug Ford and his finance minister are set to make an announcement today at 11 a.m.
Read more »
Ontario Premier Doug Ford to make announcement on eve of fall economic statement
Read more »
Ontario Premier Doug Ford to make announcement on eve of fall economic statementOntario Premier Ford to make announcement a day before the province is set to release its fall economic statement
Read more »
Ontario Premier Doug Ford urges masking, stops short of imposing mandateTORONTO — As pediatric hospitals across Ontario deal with an unprecedented surge of very sick children, Premier Doug Ford asked residents to mask up on Sunday…
Read more »
Ontario Premier Doug Ford urges masking, stops short of imposing mandate | National NewswatchNational Newswatch: Canada's most comprehensive site for political news and views. Make it a daily habit.
Read more »