Andrew 'Twiggy' Forrest has demanded Anthony Albanese slash a multi-billion-dollar business tax break - despite his own mining empire pocketing billions from the scheme.
Forrest called the fuel tax credit scheme a 'long-running joke' that is preventing the broader mining industry from embracing electrification and clean energy.
'What we need is help right now for the struggling mums and dads of Australia, that $2.5 billion doesn't need to go to people who just made $35 billion last year,' he told reporters at the Smart Energy Council conference in Sydney.
'It's a joke.'
The scheme gives tax credits to businesses for their use of diesel in vehicles, machinery, plants and equipment on private land, and is claimed by industries including mining, transport, farming, forestry and fishing.
Costing roughly $11 billion a year and no longer tied to the costs of maintaining roads, critics argue the rebates are burdening the budget and keeping users hooked on an emissions-intensive fuel that leaves them vulnerable to supply chain shocks, as exposed by the war in the Middle East.
The policy has received renewed scrutiny heading into the 2026 federal budget, with the Australian Council of Trade Unions and the Labor Environmental Action Network among supporters of a less generous scheme.
Forrest's mining company, Fortescue, has also been pushing for a wind-back. The miner is among the biggest beneficiaries, but is pursuing a rapid decarbonisation agenda to run its trucks and machines on renewable energy rather than diesel.
Andrew 'Twiggy' Forrest (pictured) has called for a fuel tax credit to be scrapped
The iron ore producer claims to be on track to reach 'real zero' by 2030, referring to actual emissions cuts without offsets.
But Minerals Council of Australia chief executive Tania Constable said Forrest was welcome to ditch the tax incentives at any time.
'If Forrest thinks that reducing tax credits is so important, he has always the opportunity to forfeit a fuel tax credit and make a donation directly to the tax office,' she said.
Federal Resources Minister Madeleine King has previously said the government is not considering changes to fuel credits in the 2026 budget and defended their use by farmers, miners and tourism operators not using public roads.