Mr. Speaker, I am pleased to present a petition on the anniversary of the income trust broken promise on behalf of a large number of people, most of whom are in Calgary and who remember the Prime Minister boasting about his apparent commitment to accountability when he said that the greatest fraud was a promise not kept.
They remind the Prime Minister that he promised never to tax income trusts but that he recklessly broke that promise by imposing a 31.5% punitive tax, wiping out $25 billion of hard-earned retirement savings of over two million Canadians, particularly seniors, who hope that next Halloween is better for their savings than last Halloween.
They call upon the Conservative minority government to admit that the decision to tax income trusts was based on: first, flawed methodology and incorrect assumptions; second, to apologize to those who were unfairly harmed by this broken promise; and third, to repeal the punitive 31.5% tax on income trusts.