Prime Minister Julia Gillard has dismissed the need for a sovereign wealth fund, saying the nation's trillion-dollar superannuation pot already does the job.
A number of prominent experts and politicians, including Liberal frontbencher Malcolm Turnbull, have argued for the need to create a sovereign wealth fund to maximise the benefits of the mining boom. A sovereign wealth fund would tuck billions of dollars in tax revenue from the boom away for a rainy day..............................................Full Article: Source |