![]() "In terms of the revenue reduction it would be more significant," said budget watchdog Peter Weltman. The lost revenue would come at a time when the government faces a post-pandemic deficit ranging between $16 to $20.5 billion - figures which come from the FAO and Ministry of Finance respectively. The office of the FAO said, on Tuesday, the impact to the province could be "somewhere around a billion dollars" based on previous analysis of the registration fees. In 2018-19, Ontario's Financial Accountability Officer (FAO) reported that Vehicle and Driver Registration Fees brought $1.95 billion into the government's coffers, but that the program ended up costing $2.4 billion that year - leaving a $436 million program shortfall. While eliminating the fee would benefit more than eight million drivers every year, it would also represent a multi-million dollar hit to Ontario's finances. Sources said the government wanted to ensure municipalities still had the ability to recoup costs, businesses could verify a driver's outstanding fines, and police services could continue to enforce traffic rules. Licence plate renewals are often used as an enforcement mechanism for unpaid parking tickets and 407 fees. Sources clarified on Tuesday that while the government would eliminate the fee associated with licence plate renewals for passenger vehicles, light commercial vehicles and motorcycles, motorists would still be required to replace stickers on a yearly basis. ![]() The measure would save drivers about $120 a year. Sources say the plan originated from the Ministry of Transportation and was presented to cabinet ministers at a recent meeting with a public unveiling of the cost-savings measure scheduled in the days ahead. In a populist pre-election move, Ontario Premier Doug Ford is looking to eliminate the vehicle registration fee, CTV News Toronto has learned.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |