May 16, 2018 12:58 pm
Updated: May 16, 2018 8:05 pm

Doug Ford vows to cut gas prices, but unclear on how lost revenue would be replaced

WATCH ABOVE: On the campaign trail Wednesday, Doug Ford dominated the headlines with a pledge about gas prices. Alan Carter has more.

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OAKVILLE, Ont. – Doug Ford says a Progressive Conservative government would cut gas prices by 10 cents a litre in Ontario, including by reducing the gas tax, but he wasn’t clear on how he would replace the lost revenue.

The Tory leader says he would cut the provincial gas tax by 5.7 cents a litre.

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READ MORE: How will Ontario’s parties tackle the provincial deficit?

He also says he would scrap 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.

Cap and trade brought in about $2 billion in revenue last year, and the gas tax brought in about $2.7 billion.

READ MORE: 2018 Ontario election promise tracker: Here’s what the Liberals, PCs, NDP and Greens have pledged so far

When asked how he would make up for the lost revenue, Ford said when drivers have more money in their pockets they will go out and shop, therefore stimulating the economy.

Municipalities receive a share of the gas tax, but the Tories say in a news release that the communities will not see a corresponding decrease in their transfer payments.

© 2018 The Canadian Press

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