The second petition, Mr. Speaker, is the income trust broken promise petition. This is from Mr. Gordon Hallgren from Drayton, Alberta, a wonderful place. He remembers the Prime Minister saying that there was no greater fraud than a promise not kept.
The petitioners remind 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 over $25 billion of the hard-earned retirement savings of over two million Canadians, particularly seniors.
The petitioners therefore call upon the government to admit that the decision to tax income trusts was based on flawed methodology and incorrect assumptions, to apologize to those who were unfairly harmed by this broken and to repeal the punitive 31.5% tax on income trusts.