The suggested measures to levy more taxes from metal companies will result in the disappearance of the reason to modernize manufacture and increase labor productivity, as well as reduce investment funds.
According to the letter of Severstal owner Alexei Mordashov to the minister of industry and trade Denis Manturov, the group will decrease investment program if the new tax is imposed.
Moreover, he believes this will damage not only the metal industry, but the whole Russian economy as well. (Ukrainian metal)