Mr. Speaker, I am pleased to again present an income trust broken promise petition, this one on behalf of a number of petitioners from Calgary, Alberta. 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 retirement savings of over two million Canadians, particularly seniors.
The petitioners therefore call upon the 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; and finally, to repeal the 31.5% tax on income trusts.