Mr. Speaker, I am pleased to present another income trust petition on behalf of Mrs. Jan Pickering of Nova Scotia who remembers that the Prime Minister made a commitment to accountability when he said that the greatest fraud was a promise not kept.
The petitioners remind the Prime Minister that he promised never to tax income trusts but that he broke that promise by imposing a 31.5% 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, apologize to those who were unfairly harmed by this broken promise, particularly seniors; and finally, repeal the punitive 31.5% tax on tax on income trusts.