| Calls to set up a sovereign wealth fund to accompany Australia's resources boom have been labelled "naive, even pathetic" by former treasury secretary Ken Henry. The idea of establishing such a fund, containing a slice of the government's income from commodity sales to be invested in financial assets, has been flagged during a national debate on capitalising on the mining boom.
Henry said that, unlike Australia, Norway charged a significant price for its natural resources. Norway with its gas and oil reserves has a sovereign wealth fund, the Government Pension Fund Global, which is the world's largest...............................................Full Article: Source
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