The federal government is expected to bring down a spring economic update in the coming weeks.

Prime Minister Mark Carney yesterday announced the temporary suspension of the federal fuel excise tax on gas and diesel.

The cut, which amounts to 10 cents a litre on gas and 4 cents a litre on diesel, comes into effect next Monday, and will remain in place until Labour Day.

Carney also hinted at more announcements to come.

He says a spring economic update will be presented “in the weeks to come” which he says will outline “next steps” in building a “stronger, more independent, more resilient Canada that works for all.”

Wakeham Pleased with Temporary Fuel Tax Suspension

Premier Tony Wakeham is applauding Ottawa’s decision to temporarily cut federal fuel excise taxes on gas and diesel, but stops short of committing to similar cuts in provincial fuel taxes.

In a statement posted to social media, the premier says Newfoundlanders and Labradorians “are feeling the impact of rising fuel prices” that have resulted in increased food prices and are making it more difficult for people to access essential services.

Wakeham says the province has “taken action” by making the provincial gas tax reduction permanent.

He applauds the federal government for temporarily suspending the federal excise tax on fuel, indicating that he made the request of the federal government last month.