Keeping Costs Down
Keeping Costs Down is the fourth pillar in the government’s plan. When costs go up, it has a direct impact on families, seniors, workers and the economy. That’s why the government has a plan to help keep costs down by increasing housing supply, making it less expensive to drive or take transit, and by providing relief on everything from child care to taxes.
Highlights include:
- Implementing a long-term plan to address the housing crisis, informed by the Housing Affordability Task Force’s recommendations. This includes supporting the creation of all types of housing by speeding up approvals to get more shovels in the ground faster, prioritizing Ontario homebuyers over foreign speculators, cracking down on unethical developers, and committing to introduce a housing supply action plan every year for the next four years.
- Making it less expensive to drive by eliminating and refunding license plate renewal fees for passenger vehicles, light-duty trucks, motorcycles and mopeds, cutting the gas tax by 5.7 cents per litre for six months beginning July 1, 2022, and removing tolls on Highway 418 and 412.
- Proposing to provide an additional $300 in Personal Income Tax (PIT) relief, on average, to about 1.1 million taxpayers by enhancing the Low-income Individuals and Families Tax Credit.
- Lowering child care fees for parents and securing a fair deal for Ontario by signing a $13.2 billion agreement with the federal government in an important step towards achieving an average of $10-a-day child care by September 2025.
