Mr. Speaker, it gives me pleasure to yet again present an income trust broken promise petition on behalf of a number of constituents from my riding of Mississauga South.
The petitioners remind the Prime Minister that he promised never to tax income trusts, but he recklessly broke that promise when he imposed a 31.5% punitive tax which permanently wiped out over $25 billion of the hard earned savings of over 2 million Canadians, mostly seniors.
The petitioners, therefore, call upon the Conservative minority government: first, to admit that the decision to tax income trusts was based on flawed methodology and incorrect assumptions as shown at 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.