Mr. Speaker, I present a petition on behalf of Mr. Larry Hunter from Edmonton, Alberta, along with quite a number of others also from Edmonton, Alberta, a bastion of Conservatism. He recalls the Prime Minister boasting about his apparent commitment to accountability when he said, “The greatest fraud is a promise not kept”.
The petitioners remind the Prime Minister that he promised never to tax income trusts, but he recklessly broke that promise by imposing a 31.5% punitive tax which permanently wiped out $25 billion of hard earned retirement savings of over two million Canadians, particularly seniors.
The petitioners therefore call upon the Conservative minority, first, to admit that the decision to tax income trusts was based on flawed methodology and incorrect assumptions; second, to apologize to those who were unfairly harmed by this broken promise; and finally, to repeal the punitive 31.5% tax on income trusts.