| WA is well overdue to have a sovereign wealth fund and the State Government is to be commended for introducing the concept in this year’s Budget. As one of the early advocates of a future fund, I recall the energy that went into the policy debates on the subject in the early 1980s.
Since then, sovereign wealth funds have been established in many parts of the world. The principle of reserving for future generations a significant proportion of revenues derived from the exploitation of non-renewable resources is hard to deny. Efforts to establish a WA future fund in the 1980s were unsuccessful because of a global recession, the lower prices for iron ore and sustained opposition from Treasury bureaucrats...............................................Full Article: Source
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