Mr. Speaker, I am also pleased to present an income trust broken promise petition from a number of residents of Calgary, Alberta.
These petitioners want to remind the Prime Minister that he promised not to tax income trusts but that he broke that promise and imposed a 31.5% punitive tax that wiped out the hard-earned savings of about two million Canadians, particularly seniors, of some $25 billion.
These petitioners are calling upon the Conservative government to admit that the decision to tax income trusts was based on flawed methodology and incorrect assumptions, as demonstrated in the finance committee hearings; 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.