Yesterday Doug Ford announced that a PC government would cut gas prices by 10 cents a litre in Ontario. Ford intends to reduce the provincial gas tax by 5.7 cents a litre and by scrapping the province’s cap-and-trade system, which puts a price on carbon and has added 4.3 cents a litre to the price of gasoline. Currently, drivers pay 14.7 cents per litre of gas in provincial tax and 14.3 cents on diesel. Under this proposal from Doug Ford, both taxes would be cut to 9 cents per litre, saving drivers $1.19 billion per year.
As for the lost revenue, Ford says, “Drivers are frustrated at being gouged at the gas pumps. This will stimulate the economy when we put money back into their pocket. We aren’t putting it anywhere else … They’ll go out and shop, stimulate the economy.”
Photo Credit: Doug Ford – Instagram