Discussions in Fortescue Metals Group Limited,Google Finance...

Discussions in Fortescue Metals Group Limited,Google Finance Forum - Feb 17 2010 - by avrm.

I'm hopeful that Mr Ken Henry from The Australian Treasury, hasn't proposed any excessive taxes on our Resource sector. I appreciate your comment that The Australian Economy is doing fantastic, but in reality, this had alot to do with the health of our economy going into the GFC (which of course, was a direct result of our previous Governments economic legacy). I acknowledge that our enormous economic stimulus package, that the current Government has borrowed from China, has certainly had a positive short term effect on things - especially School Halls. The Henry Review will no doubt be the Australian Governments fundamental approach to tackling this massive debt. Middle and upper end Class Australians are understandably fearful from rumors of what The Henry Review may contain. As far as The Resource Sector go's, its one thing for the Government to re-direct State Mining revenues to Canberra, but to increase these taxes might just kill the goose that lays the golden egg (or at least make it sick). The Henry Review is apparently due to be
released any day, which should make for an interesting read to say the least.

I heard Mr Paul O'Malley (Managing Director, CEO) of The Australian Company Blue Scope Steel (BSL) say recently, that they are seriously considering getting into their own independent iron ore mining operations. I would like to see FMG teaming up with BSL. But the trouble is, in Australia (apart from having great trouble competing with Companies abroad), if one is seen to be even immeasurably Patriotic, they are immediately accused of engaging in protectionism. Ofcourse, this doesn't seem to apply to certain others....

3rd May 2010 - Just wait and see what happens if the Government gets re elected. Australia's following in Greece's footsteps..