Mr. Speaker, I am pleased to present this income trust broken promise petition from a number of people in Ontario and Alberta, people who remember the Prime Minister boasting about his commitment to transparency and accountability when he said “The greatest fraud is a promise not kept”.
The petitioners remind the Prime Minister that he never indicated that he would tax income trusts. In fact, he said he would not. However, he recklessly broke that promise, imposing a 31.5% punitive tax, which wiped out $25 billion from hard-earned retirement savings, hurting particularly Canadian seniors.
They therefore call upon the government to admit that the decision to tax income trusts was based on flawed methodology and incorrect assumptions. They call for the Prime Minister and the government to apologize to those who were unfairly harmed and to repeal the punitive 31.5% tax on income trusts.