20.08.2012 - Norwegian-style sovereign wealth fund not sensible in Australia
Norway's example of a sovereign wealth fund that captures some of the profits generated by the resources boom wouldn't work in Australia, a Treasury adviser says. Replicating a Norwegian-style sovereign wealth fund to capture some of the spoils of the resources boom is not a sensible strategy, considering the differences between the two economies, a Treasury adviser has said. "If Australia were to seek to emulate the Norwegian example, governments would need to target much higher budget surpluses than have been contemplated to date," Treasury macroecnomic policy division senior adviser Phil Garton said in a report on Friday...............................................Full Article: Source
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