"Today’s Australian Financial Review quotes Fortescue metals magnate Andrew Forrest as saying he and Rudd had been working on a compromise deal that would have seen mining companies avoid the super profits tax of 40 per cent by writing off capital expenditure on infrastructure investment.
Mr Forrest said the new tax deal was being worked on frantically by Mr Rudd but was not given a chance to be finalised because Ms Gillard challenged and won the Labor leadership, effectively killing the deal."
I don't want to burst the Fin Reviews' bubble, but that is very old news. It has been published in several different places as far back as last year. I thought it was common knowledge.
Andrew Forest was keynote speakr at a lunch at Sydney's Ivy yesterday. He said what I have beleived for a long time. Fortescue basically thrives on dealing with obstacles and problems.
Australia desperatly needs as many Andrew Forrests as it can get.
