Mr. Speaker, pursuant to Standing Order 36 and as certified by the Clerk of Petitions, I am pleased to present another income trust petition from Mr. Peter Davis from my riding of Mississauga South.
The petitioners want to 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, which permanently wiped out over $25 billion of the hard-earned savings of over two million Canadians, particularly seniors.
The petitioners, therefore, call upon the Conservative government to: first, admit that the decision to tax income trusts was based on flawed methodology and incorrect assumptions, as was shown at the finance committee hearings on that matter; second, apologize those who are unfairly harmed by this broken promise; and, finally, repeal the punitive 31.5% tax on income trusts.