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Australia: No wealth fund: The opposition treasury spokesman

Posted on 27 March 2012

The Australian Greens have consistently called for Australia to set up a new sovereign wealth fund, to help pay for infrastructure projects. But the opposition treasury spokesman Joe Hockey rejected the idea.
“A new sovereign wealth fund for Australia is a ridiculously stupid idea for so long as we have taxes that are higher than many of our competitors, when we have net debt of A$140 billion, and for so long as we have a free and open economy,” he said………………………………………..Full Article: Source


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