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Province Releasing Fall Economic Statement Today

Wednesday, 30 October 2024 07:07

By Marcie Culbert X @marcieculbert

Premier Doug Ford says the fall economic statement is an ambitious plan to build highways, hospitals, and homes

QUEENS PARK - The Ford Government is set to release its fall economic statement today.

Finance Minister Peter Bethlenfalvy is set to deliver the 2024 Ontario Economic Outlook and Fiscal Review in the legislature at 1:00 p.m. today.

Premier Doug Ford says it's an ambitious plan to build highways, hospitals, and homes. He also says the economic update will maintain his government's path to balance. The spring budget projected a deficit of $9.8 billion for 2024-2025 and a deficit of $4.6 billion for next year.

The Ford Government has already revealed to affordability items that will be included in the fiscal update:

- Extending the 5.7 cut to the provincial gas tax until June 30th, 2025.

- A $200 rebate for eligible taxpayers which would be mailed out in early 2025.

In a press release sent out yesterday, Premier Ford had this to say about the taxpayer rebate.

"We’re doing everything we can to keep costs down for Ontario families, but the federal carbon tax and high interest rates are still hurting taxpayers across the province. This $200 taxpayer rebate will give Ontario taxpayers, especially families with children, some much-deserved help so they can make ends meet."

Opposition critics say the cheques would arrive in taxpayer's mailboxes right before a possible spring election next year.

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