The State Government will tap the Royalties for Regions scheme in Thursday’s Budget to help establish a separate fund for future generations. The move is seen as an attempt to deflect criticism it is not doing enough to spread the benefits of the boom.
But WA’s peak business lobby group attacked the sovereign wealth fund proposal, saying the Government should instead invest in ports and cut taxes before ploughing millions worth of mining royalties into a bank account for a rainy day………………………………………..Full Article: Source