Mr. Speaker, I am very pleased to present yet another income trust broken promise petition on behalf of a large number of my own constituents in Mississauga South. 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 over $25 billion of the hard-earned savings of over two million Canadians, particularly seniors.
The petitioners therefore call upon the Conservative minority government, first, to admit that the decision to tax income trusts was based on flawed methodology and incorrect assumptions; 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.