Mr. Speaker, I have the pleasure to present an income trust broken promise petition from Robert Farrington of Parry Sound, Ontario, the home of Bobby Orr, on behalf of many people who remember the Prime Minister boasting about his apparent commitment to accountability when he said that the greatest fraud was a promise not kept.
The petitioners remind the Prime Minister that he promised never to tax income trusts and then he broke that promise by imposing a 31.5% punitive tax which wiped out $25 billion in retirement savings of hard-working seniors in particular.
The petitioners call upon the Conservative government to first, 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 promise; and finally, to repeal the punitive 31.5% tax on income trusts.
I would like to thank Mr. Farrington for his dedication.