The Progressive Conservative plan will lower the minimum price of a bottle or can of beer to $1 from $1.25 starting August 27 - a few days before the Labour Day weekend.
Speaking at a brewery in Picton, Ont., on Tuesday, the premier said the program, which was one of his promises during the spring election campaign, will not cost taxpayers anything.
A buck a beer is nearly here. Once upon a time you could buy a beer for $1 a bottle.
"We're going to do this smartly and responsibly", said Ford in a statement issued Tuesday.More news: Netflix limited series Maniac debuts trailer and key art
The Premier criticized the former Liberal government for increasing the price a decade ago by 25 cents.
The lower minimum price will not apply to draft beer and won't include the bottle deposit.
"Lower alcohol prices can lead to increased consumption, particularly among those with alcohol problems, and among young people, and that increased consumption can in turn lead to increased alcohol-related problems, including impaired driving". "I think people in Ontario are mature enough to know when they've had one too many", he said.
Currently, the retail price floor sits at $1.25 and while brewers won't be mandated to lower prices, the "Buck-a-Beer Challenge" encourages Ontario brewers to "receive LCBO promotional considerations such as limited-time discounts, in-store displays on end aisles and shelf extenders, or advertising in LCBO flyers and newspaper inserts".More news: Tesla Inc: Elon Musk says he's considering taking car-maker private
To provide incentives for brewers to lower their prices, the government is creating what it calls the buck-a-beer challenge, which will provide participating breweries with incentives at the provincially-owned LCBO stores.
Finance Minister Vic Fedeli said there are no financial incentives from the government and the tax portion of the cost of beer is not being reduced.
Ford says the buck a beer will allow for more competition in the market.
Ben Johnson, who operates London-based beer review website Ben's Beer Blog, believes that only large multi-national companies will be able to sell cheap beer because of the volume they produce.More news: Ian Wright's tweet after Stan Kroenke agrees to takeover Arsenal