Gupta, of course, shot to fame by snapping up the assets of the collapsed steel company Arrium almost three years ago as he expanded his empire around the world (he’s been living in a $30,000-a-week seven-bedroom mansion in Sydney’s Eastern Suburbs). As the Herald reported in August, Gupta went cap-in-hand to Treasurer Josh Frydenberg asking for a debt guarantee. South Australian Premier Stephen Marshall had already forked out $50 million, while the Scottish government promised to back $1 billion of the company’s debts. Those suckers. But this column can also reveal that Gupta’s requests for public money go further back than this. It started soon after he acquired the Arrium assets — which included a number of Sydney facilities — in 2017. That’s when he wrote to the office of NSW Treasurer Dominic Perrottet asking for tax relief on stamp duty and transfer duty expenses. No doubt he was hoping to take advantage of politicians worried about potential job cuts. No luck. Revenue NSW wrote back last year declining the request. As one British investor describing Gupta’s business model told the Times of London: “it’s playing roulette with public funds.” HOUSING BENEFITS Labor’s treasury spokesman Jim Chalmers appears to be… Read full this story
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