dictators

Forrest attacks 'unchangeable' super tax """

http://bigpondnews.com/articles/Business/2010/05/20/Forrest_attacks_unchangeable_super_tax_464151.html


Andrew Forrest has attacked the federal govt's consultation process over the resources super profits tax.

Andrew Forrest has attacked the federal govt's consultation process over the resources super profits tax.


West Australian mining magnate Andrew Forrest has attacked the federal government's consultation process over the resources super profits tax (RSPT), saying he has been told nothing will be changed.

The Fortescue Metals boss said Prime Minister Kevin Rudd was also not returning his calls.

Mr Forrest has been a vocal opponent of the tax, saying it will slow the Australian economy and cost thousands of jobs.

On Wednesday, he said he may sell projects worth more than $17 billion that have been put on hold due to the RSPT to foreign firms.

There have already been several expressions of interest by overseas companies with Mr Forrest saying he was told Fortescue can no longer finance the projects and foreign firms could allow him to 'pull a rabbit out of the hat' by buying them.

Speaking at the Australian Mines and Metals Association national conference on Thursday, Mr Forrest said consultation with the government over the tax had been futile.

'They said to us we can't change the tax, the 40 per cent rate, the six per cent, the retrospectivity, we can't change it,' he said in Perth.

'They said if you want to get rid of this tax, you have to change the government'.

'And that doesn't really suit me at all.'

The West Australian billionaire and Mr Rudd have become close friends during the past three years through their work in promoting indigenous employment and welfare.

Mr Forrest said the fall-out from the tax was testing their relationship.

'Having a policy which pits me against some of the people I deeply admire is placing me in a very difficult position.'

He said Mr Rudd would not return his calls and the only people he was prepared to speak to was the media