Mr. Speaker, at a time when accountability is a very hot issue in this place, I am pleased to present yet another petition forwarded to me by a Mr. White from Whitby, Ontario, on the subject matter of income trusts.
In this petition, Mr. White declares that he remembers the Prime Minister having said that the greatest fraud is a promise not kept. He also reminds the Prime Minister that he promised never to tax income trusts but broke that promise and imposed the 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 Conservative minority government to: first, admit that the decision to tax income trusts was based on flawed methodology and incorrect assumptions; second, to apologize to those who were unfairly farmed by this broken promise; and, third, to repeal the punitive 31.5% tax on income trusts.