Ontario To Cut Gas and Fuel Taxes For Additional Year
Beamsville – As part of its plan to help keep costs down for Ontario families and businesses, the government’s 2022 Fall Economic Statement will propose legislation that would, if passed, extend the current gas and fuel tax rate cuts to December 31, 2023.
“At a time when inflation has reached the highest levels in over four decades, we know families are feeling the pressure from rising prices on everything from gas to groceries,” said Hon. Doug Ford, Premier of Ontario.
“To continue providing real relief, our government is proposing to extend the gas tax cut for another year to put more money back in peoples’ pockets where it belongs.”
The proposed extension of the gas and fuel tax rate cuts for an additional year would save Ontario households $195 on average between July 1, 2022, and December 31, 2023. This extension follows legislation passed this spring that cut the gas tax by 5.7 cents per litre and the fuel tax by 5.3 cents per litre for six months, from July 1, 2022, to December 31, 2022.
“An ongoing concern for many residents in Niagara West during this time of economic uncertainty is affordability and cost of living,” said Sam Oosterhoff, MPP for Niagara West.
“I am proud that I am part of a government, under the leadership of Premier Ford, that continues to lower the cost of living in our region and across the province by putting money back in the pockets of working families.”
“By proposing to extend the gas and fuel tax rate cuts our government is helping Ontario families keep more money in their pockets,” said Hon. Peter Bethlenfalvy, Minister of Finance.
“Ontario, like the rest of the world, will continue to face economic challenges in the year ahead. This is why our government’s Fall Economic Statement will take a responsible approach to advance our plan to build while also being ready for any challenge that may come our way.”