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PM Mark Carney Temporarily Suspends Gas Tax

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This is Mark Carney's first announcement following the Liberal majority government win.

OTTAWA - Canadian Prime Minister Mark Carney is suspending the fuel tax on gasoline and diesel until Labour Day after securing a majority government.

It will be in effect on Monday, with the tax break expected to save Canadians 10 cents per litre on gasoline and four cents a litre on diesel. Carney says the break is a ‘responsible, temporary measure’ that will also help reduce costs for truckers and businesses with high transportations costs.

This is the second time this year that Carney’s government used tax measures to address rising prices. In January, he increased Canada’s goods and services tax credit for five years with a one-time top-up in June to help with grocery bills.

This comes in wake of gas prices surging globally following the conflict in the Middle East.

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