Madam Speaker, pursuant to Standing Order 36 and as certified by the Clerk of Petitions, I am pleased to present yet another income trust broken promise petition from Burlington, Ontario and from my own riding of Mississauga South.
The petitioners remember the Prime Minister boasting about his apparent 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 % punitive tax that 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 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 that broken promise; and finally, repeal the punitive 31.5% tax on income trusts.