31.08.2011 - Australia: Gillard rejects call for wealth fund
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
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