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

Australia: Gillard rejects call for wealth fund

Posted on 31 August 2011

Julia GillardPrime Minister Julia Gillard has dismissed the need for a sovereign wealth fund, saying the nation’s trillion-dollar superannuation pot already does the job.
A number of prominent experts and politicians, including Liberal frontbencher Malcolm Turnbull, have argued for the need to create a sovereign wealth fund to maximise the benefits of the mining boom. A sovereign wealth fund would tuck billions of dollars in tax revenue from the boom away for a rainy day……………………………………….Full Article: Source


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