Mr. Speaker, it is my pleasure to present this income trust broken promise petition on behalf of a number of people across the country, a large number in western Canada, who remember the Prime Minister boasting about his apparent commitment to accountability when he said the greatest fraud is a promise not kept.
The petitioners would like to remind the Prime Minister that he promised never to tax income trusts, but he broke that promise by imposing a 31.5% punitive tax, which permanently wiped out $25 billion of the hard-earned retirement savings of Canadians, many of them seniors.
They therefore call upon the Conservative 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 and, finally, to repeal that punitive 31.5% tax on income trusts.