Mr. Speaker, I am pleased to present this income trust broken promise petition on behalf of residents of Calgary, Alberta, who remind the Prime Minister about his boasting of his commitment to accountability when he said that the greatest fraud is a promise not kept. The petitioners 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 hard-earned savings of over two million Canadians, particularly seniors.
The petitioners therefore call upon the 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.