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Sovereign Wealth Funds Briefing - Categorized | Market

Mining boom ’squandered’: CFMEU

Posted on 27 November 2013

Australia should consider a Norwegian-style sovereign wealth fund to share around the benefits of the mining boom, a union report argues. The Construction, Forestry, Mining and Energy Union (CFMEU) released its report on the resources boom, Sharing the Benefits today.
The report found that although the boom had helped shelter Australia from the worst of the global financial crisis, governments had “squandered” a chance to efficiently share its profits. “We have experienced a major boom but have relatively little to show from it,” CFMEU president Tony Maher said in the report………………………………………..Full Article: Source


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