24.09.2013 - A sovereign wealth fund for South Australia
South Australian Premier Jay Weatherill has announced the establishment of a future fund for South Australia’s state government. The public fund’s objectives, according to a statement, will be to quarantine “money to be spent on infrastructure, children, families and the workforce.” Weatherill stated that the wealth fund will be capitalized through excess petroleum and mineral revenues only if the state budget is in surplus. He estimates that the first cash infusion will take place as early as 2015 with about A$ 20 million.......................................Full Article: Source
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