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

Governments are not good savers but we have shown them how

Posted on 20 September 2011

Sometimes it takes just a flicker of good sense to illuminate a debate such as whether Australia should have a sovereign wealth fund. Such a moment came yesterday when Federal Treasury secretary Martin Parkinson finally pointed out that there is not a great idea to set up and contribute to such a fund unless the Federal Budget is in surplus.
“The first thing you want to do is to move the budget back into surplus, pay down the small stock of debt that’s accumulated, and then think about where you actually want to build up assets,” Dr Parkinson said……………………………………….Full Article: Source


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