Mr. Speaker, pursuant to Standing Order 36, and as certified by the Clerk of Petitions, I am pleased to present yet another income trust broken promise petition on behalf of my constituent, Mr. Neville Schepmyer.
The petitioners remember the Prime Minister boasting about his apparent commitment to accountability when he said “the greatest fraud is a promise not kept”.
The petitioners want to remind the Prime Minister that he promised never to tax income trusts. He recklessly broke that promise. He imposed a 31.5% punitive tax, which permanently wiped out over $25 billion of the hard-earned retirement savings of over 2 million Canadians, particularly seniors.
The petitioners call upon the Conservative minority government, first, to admit that the decision to tax income trust was based on flawed methodology and incorrect assumptions; secondly, to apologize to those who were unfairly harmed by this broken promise, this tax increase; and finally, to repeal the 31.5% tax on income trusts.