Premier Doug Ford is expected to send out cheques to roughly 16 million Ontario residents in response to the rising cost of living ahead of a possible early election, according to an exclusive report by The Star. 

Sources who spoke with the publication said that the announcement will made in Finance Minister Peter Bethlenfalvy’s fall economic statement on Oct. 30.

Although the exact amount of rebate cheques is still being established, the government will be setting aside at least $200 for every adult and child in the province, costing the provincial treasury roughly $3.2 billion when the payments are made. 

The extra cash would be tax-free and could equate to an additional $800 in household money for a family of four. 

According to close sources who spoke with the Star, high grocery prices, as well as energy and housing expenses justified the rationale for the payments. The sources also reportedly noted that "Ford wants to get more money back in the pockets" of Ontario residents. 

At a press conference in Brockville last Friday, Ford told reporters that he understands the financial pressures families in the province are facing these days. 

"We're looking at cutting costs every which way we possibly can," Ford said. 

"We're the only government in the history of this province — think of this — that has never raised a tax. We reduced taxes. We got rid of the sticker fee that people were having to pay every single year."