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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches, People

No sovereign wealth fund for Canada’s resources, says Oliver

Posted on 15 October 2012

Natural Resources Minister Joe Oliver put down a suggestion Canada save the money it makes from its vast resource wealth Thursday. If Ottawa were to redirect royalties and taxes from regular revenue towards a sovereign wealth fund — common practice in many resource economies — it wouldn’t go to more critical social programs today, said Oliver.
“If we aren’t receiving those hundreds of billions of dollars, we would not be able to afford the same level of health care and same level of education and other programs,” he said. “This is a crucial issue and to the extent that money is diverted from those programs, it’s not available for those programs.”……………………………………….Full Article: Source


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