Mr. Speaker, I am pleased to again present a petition on the income trust broken promise.
The petitioners want to remind the Prime MInister that he promised never to tax income trusts but that he broke that promise by imposing a 31.5% punitive tax which permanently wiped out over $25 billion of the hard-earned retirement savings of two million Canadians, particularly seniors.
The petitioners from my city of Mississauga would like to call upon the government 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.