Mr. Speaker, I am pleased to present another income trust broken promise petition on behalf of a large number of residents of my riding of Mississauga South.
The petitioners would like to remind the Prime Minister that he promised never to tax income trusts, but he did break that promise by imposing a 31.5% punitive tax which permanently wiped out $25 billion of the hard earned savings of over 2 million Canadians, particularly seniors.
The petitioners, therefore, call upon the Conservative minority government to: first, to admit that the decision to tax these income trusts was based on flawed methodology and incorrect assumptions, as was shown in the finance committee; 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.