๐Ontario is prolonging a temporary tax cut aimed at easing the financial burden on drivers at gas stations. Initially implemented in July 2022, the cut reduces gasoline tax by 5.7 cents per liter and diesel fuel tax by 5.3 cents per liter. Premier Doug Ford announced the extension until the year's end, emphasizing the government's commitment to cost-saving measures during a press conference in Mississauga. Legislation to extend the gas tax cut until December 31, 2024, will be introduced through the 2024 budget on March 26. The province estimates that these tax breaks have annually saved households an average of $320 since their inception. Finance Minister Peter Bethlenfalvy underscores the government's proactive stance in combating high inflation and interest rates. Ford's initial promise to lower gas prices by 10 cents per liter during the 2018 election campaign was partly fulfilled by ending the cap-and-trade system. However, the subsequent implementation of the federal carbon tax nullified some of these savings. Ford urges the federal government to reconsider the planned increase in the carbon tax scheduled for April 1, citing additional financial strain on Ontarians.โ
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๐ฐ๐ฐ๐ฐ.๐ญ๐๐ฑ๐๐ฌ๐๐ญ๐ฃ๐จ๐ฒ.๐๐
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#OntarioGasTax #TaxCutExtension #CostSavings #DougFordGovernment #FinancialRelief #CarbonTax #FederalPolicy #BudgetAnnouncement #mnm #malayalisnearmeapp #canadaupdate #canadanews
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