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Fortescue Metals Group founder Andrew Forrest has suggested iron ore miners cap production, but it might have been unnecessary had he supported a well-designed mining tax. Julian Smith/AAP

Why Twiggy Forrest should have got behind a super profits tax

Had the mining industry engaged differently on the proposed mining super profits tax, it would be in a better position today.
Commonwealth Bank chief Ian Narev announces a record full-year profit of A$7.8 billion, ahead of this week’s $2.1 billion quarterly result. Paul Miller/AAP

Bank profits grow, and so does the criticism. Who’s right?

Like most companies, banks report their profits twice a year. Each time the majors report we see headlines about the size of the profits and implicit or explicit criticism of the amount – this time about…

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