Auto insurance rates could fall by end of the year
Music to a drivers ears.
Ontario's Liberal government says it wants to see an eight per cent cut in auto insurance premiums by next August.
Finance Minister Charles Sousa says the government wants rates cut by 15 per cent within two years.
The New Democrats had demanded the insurance rate cuts in exchange for supporting the minority government's budget.
But the NDP wanted a 15 per cent cut in one year, saying the industry should pass along savings from earlier regulatory changes.
Officials predict the rate cuts would mean an average savings of $200 for drivers.
Sousa says the government will also keep cracking down on insurance fraud.