Madam Speaker, pursuant to Standing Order 36 and as certified by the clerk of petitions, I am pleased to present, yet another, what I think is about the 100th petition related to the broken income trust promise. It was forwarded to me by a Mr. Armstrong from Peterborough, Ontario, who remembers the Prime Minister boasting about his apparent commitment to accountability when he said that the greatest fraud is a promise not kept.
The petitioners remind the Prime Minister that he promised never to tax income trusts. He recklessly broke that promise and imposed a 31.5% punitive tax, which permanently wiped out over $25 billion of the hard-earned retirement savings of over 2 million Canadians, particularly seniors.
Therefore, the petitioners call upon the Conservative minority government 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 by this broken promise; and finally, to repeal the punitive 31.5% tax on income trusts.