Mr. Speaker, I am pleased to again present an income trust broken promise petition on behalf of a number of constituents of my riding of 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 retirement savings of over two million, 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 shown in the finance committee; second, apologize to those who were unfairly harmed by this broken promise; and finally, repeal the punitive 31.5% tax on income trusts.