The article, written by The Canadian Press staff and published on October 28, 2024, reports on Ontario’s plan to extend a reduction in the provincial gas tax into the next summer. The Premier, Doug Ford, has announced that his government will propose legislation to maintain the tax at nine cents per litre until June 30.

This tax cut is not only limited to gas but also extends to diesel fuel, which will see a 5.3-cent reduction. Initially, the province implemented temporary cuts to the gasoline and diesel tax rates in July 2022, which have been continually extended due to various factors.

Premier Ford estimates that these series of tax cuts will provide significant savings for Ontario households. According to his calculations, the average household will have saved $380 over the three-year period since the tax cut’s introduction.

In addition to this, Ford used the announcement as an opportunity to encourage the federal government to abolish the federal carbon tax. He has been a consistent critic of this tax.

This article is relevant for those interested in Ontario’s economic policies, particularly as they relate to fuel taxes. It’s also noteworthy for individuals considering investment opportunities in the region, as it provides insight into the government’s approach to taxation and its potential impact on the economy.

© 2024 The Canadian Press.