Mr. Speaker, pursuant to Standing Order 36 and as certified by the clerk of petitions, I want to present another income trust broken promise petition sent to me by Mr. Brad Grant, who remembers the Prime Minister boasting about his apparent commitment to accountability when he said, “There is no greater fraud than a promise not kept”.
The petitioners want to remind the Prime Minister that he promised never to tax income trusts, but he broke that promise by imposing 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.
The petitioners call upon the government first, to admit that the decision to tax income trusts was based on flawed methodology and incorrect assumptions, as was demonstrated at the finance committee hearings; 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.