CAPITAL MARKETS

FMG's debt will make the tax bite: Forrest

FORTESCUE Metals Group has stepped up its pressure on the federal government over the planned resources super-profits tax, with FMG chairman Herb Elliot describing the move as “socialist” in a letter to shareholders today.

Nick Evans
FMG's debt will make the tax bite: Forrest

Elliot said the government has “dropped on the Australian people a socialist-style funding and tax device whereby the government is now your silent partner”, describing the RSPT as a “huge new take dressed...

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