The Liberal party will reduce the cost of private car registration to New South Wales levels if it wins the territory election.
Liberal leader Alistair Coe said reducing the registration fees was part of a plan to assist struggling families, households and local businesses.
"We know many Canberrans are doing it tough and are preparing themselves to weather the economic storm from COVID," Mr Coe said.
"That's why we're committed to reducing cost of living pressures, enabling Canberrans to keep more of what they earn.
"Not only will this return greater confidence to household budgets, but it will serve as a key economic driver to stimulate our COVID economy."
Under the new pricing scheme, motorists would pay between $84.10 and $98.90 less for the registration fee depending on the weight of the car:
- A vehicle weighing up to 975 kilograms would cost $219, down from $314.40
- A 976kg to 1154kg car would cost $254, down from $384.10
- A 1155kg to 1504kg car would cost $310, down from $394.10
- A 1505kg to 2504kg car would cost $474, down from $572.90
Motorists would be required to pay for the Motor Accident Injuries Scheme, a road rescue and lifetime care and support levy and a road safety contribution on top of the registration fee.
Vehicle registration costs were frozen this financial year as part of an ACT government coronavirus stimulus package.
The Liberal Party claims car registration costs have increased by more than 40 per cent since 2012, making ACT one of the most expensive places in Australia to register a car.
Chief Minister Andrew Barr said car registration had been falling since Labor began reforming the Compulsory Third-party Insurance Scheme to allow competition in 2013.
"With the introduction of the new Motor Accident Injuries Scheme, car registration in the ACT will be on average $60 less each year than what they were on 1 February 2019," Mr Barr said.
"These reductions in car registration fees were opposed by the Canberra Liberals in the Legislative Assembly."
Liberal spokeswoman for urban services Nicole Lawder said reducing fees would be an important investment to help more stressed Canberra families get ahead.
"Reducing rego is part of the Canberra Liberals' strategy for reducing cost of living pressures and stopping households going across the border to escape Labor's punitive tax regime," Ms Lawder said.