November 8, 2005.
Dear Mr. Laxton
Thank you for expressing your concerns about the confusion the Minister of Finance has caused on income trusts.
Income trusts have helped numerous Canadian companies grow and flourish and enabled ordinary Canadians to generate more income for their retirement years. The federal Liberal government's reckless decision last September to cancel advance tax rulings on income trusts caused Canadian businesses to lose billions of dollars in market capitalization and Canadians to lose thousands of dollars of personal savings.
Canadians investing in good faith to save for their retirement deserve certainty, not a government review of how the Liberals can grab more taxes from them.
We know that Canadians draw regularly form their investments to supplement their retirement savings. When the value of their investments drops as a result of government indecisiveness, so does their retirement income. It is time the government stopped penalizing our citizens.
My colleagues and I in the Conservative Party are committed to maintaining income trusts as a valuable savings and investment tool for Canadians.
Thank you again for contacting me,
[signed Stockwell Day]
Stockwell Day, M.P.
Official Opposition Foreign Affairs Critic
Tuesday, August 4, 2009
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