The federal government is slashing tolls on the Confederation Bridge and lowering ferry fares in Eastern Canada, Prime Minister Mark Carney announced while in Prince Edward Island on Monday.

Effective August 1st, we’re cutting tolls on the Confederation Bridge from $50 to $20 — and cutting fares on all interprovincial ferries in half in Atlantic Canada. Canada’s new government is bringing down costs and building one strong, Canadian economy.

Starting Friday, tolls on the Confederation Bridge for an average vehicle will drop from $50.25 to $20, as part of the government's plan to reduce internal trade barriers in response