Mr. Speaker, today I was pleased to welcome the students from Mentor College in my riding of Mississauga South. I told them a little about my day, which actually included a rally organized by David and Lorraine Marshall, who had this rally here to protest the income trust broken promise.
I told them that the Prime Minister said in the last election that “there is no greater fraud than a promise not kept”, but he never kept that promise. In fact, he broke the promise, and 2.5 million Canadians, mostly seniors, lost $25 billion of their hard-earned retirement savings.
Before the finance committee, expert witnesses proved that the government's rationale to tax income trusts was based on flawed methodology and incorrect assumptions. Now is the time for the government to do the right thing and repeal the 31.5% tax so those seniors can live with respect and dignity.