Swan determined to deliver MRRT

Acting Prime Minister Wayne Swan is determined to deliver the government’s mining tax from July 1 despite a High Court challenge.

Twiggy Forrest’s Fortescue Metals Group is challenging the minerals resource rent tax (MRRT) on constitutional grounds.

Mr Swan said the challenge came as no surprise to the government, given Mr Forrest’s staunch opposition to the tax.

“The Gillard government believes Australia’s non-renewable natural resources belong to all Australians, not just to a handful of mining billionaires,” he said in a statement on Friday.

The government was determined to deliver the MRRT to ensure the Australian community shared in the benefits and opportunities of the mining boom, Mr Swan said.

Proceeds from the controversial 30 per cent tax on the super profits of iron ore and coal companies will be used to fund a variety of initiatives for business, households and individuals.

Fortescue chief Nev Power has said the company believed it had a good case for a challenge.

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