Mr. Speaker, I am pleased to present this income trust broken promise petition on behalf of Mrs. Elaine Hughes from Saskatchewan, who remembers the Prime Minister boasting about his apparent commitment to accountability when he said that there is no greater fraud than a promise not kept.
The petitioners want to remind the Prime Minister that he promised never to tax income trusts, but he recklessly broke that promise, imposed a 31.5% punitive tax and wiped out over $25 billion of hard-earned retirement savings of over two million Canadians, particularly seniors.
The petitioners therefore call upon the Conservative minority 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 promise; and to repeal the punitive 31.5% tax on income trusts.