Mr. Speaker, I wish to present an income trust broken promise petition on behalf of Mr. Joe Savino of Maple, Ontario.
The petitioners remind the Prime Minister that he had promised never to tax income trusts, but that he broke that promise by imposing a 31.5% punitive tax which permanently wiped out $25 billion of the hard-earned retirement savings of over two million Canadians, particularly seniors.
Therefore, the petitioners call upon the Conservative minority government first, to admit that the decision to tax income trusts was based on flawed methodology and incorrect assumptions, second, to apologize to those who are unfairly harmed by this broken promise, and finally, to repeal the punitive 31.5% tax on income trusts.