Fortescue Founder Criticizes Diesel Tax Credit Amid Push for Electrification
Andrew Forrest, founder of Fortescue Metals Group, has criticized Australia's diesel tax credit scheme, calling it a 'long-running joke' that hinders the mining industry's shift to electrification and clean energy. The scheme provides tax credits for diesel use in industries like mining and transport, costing the government approximately $11 billion annually. Forrest advocates for reducing these credits, suggesting a cap that could save $2.5 billion yearly. Fortescue, a major beneficiary of the scheme, is pursuing a decarbonization agenda, aiming for 'real zero' emissions by 2030. 
