Mr. Speaker, the second petition is yet another petition on the income trust broken promise.
The petitioners remind the Prime Minister that he boasted about his apparent commitment to accountability when he said that the greatest fraud is a promise not kept. They also remind the Prime Minister that he promised not to tax income trusts, but 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 two million Canadians, particularly seniors.
The petitioners therefore call upon the Conservative minority government, first, to admit that the decision to tax income trusts was based on flawed methodology and incorrect assumptions, as was demonstrated before the finance committee, second, to apologize to those who were unfairly harmed by this broken promise, and third, to repeal the 31.5% tax on income trusts.