Mr. Speaker, I am pleased to present, yet again, another income trust broken promise petition submitted to me by a large number of Canadians, mostly from Calgary, Alberta.
The petitioners want to remind the Prime Minister that he promised never to tax income trusts but recklessly broke that promise by imposing a 31.5% 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 to: first, admit that the decision to tax income trusts was based on flawed methodology and incorrect assumptions, as was demonstrated in the finance committee of the House; second, apologize to those who were unfairly harmed by this broken promise; and finally, repeal the punitive 31.5% tax on income trusts.