fmg not concerned about carbon tax

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    "INCOMING Fortescue Metals Group boss Neville Power has said the Federal Government's proposed carbon tax regime isn't an issue for the company.

    Speaking to reporters at the Boao Forum today Mr Power said the carbon tax would have a minimal impact on FMG?s bottom line, and nominated the proposed minerals resource rent tax as a far greater concern for the company.

    "The carbon tax impacts on Fortescue, for example, approximately one per cent on our bottom line. So in that sense it is not a significant fact for us going forward,? said Mr Power.

    "Of more issue to us is the MRRT which is a very unfair and very narrowly based tax so for us that is much more of an issue.?

    Mr Power said the matter had not been much discussed at the Boao Forum for Asia resources and energy conference this week, despite the political storm the issue has generated in Australia after Prime Minister Julia Gillard announced details of the tax on Sunday.

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    "It hasn?t been talked about in great details, but I guess more broadly taxation regimes more generally and the unexpected consequences that some of these can have,? Mr Power said.

    While Mr Power said the carbon tax regime will have little impact on FMG, he echoed criticism of the tax by other industry leaders, saying it will have a greater impact on energy hungry industries and may drive Australian jobs offshore."

    http://www.perthnow.com.au/business/fmg-not-concerned-about-carbon-tax/story-e6frg2r3-1226093236427

 
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