|Greg Poelzer of the Macdonald-Laurier Institute released a report Thursday arguing that the creation of so-called “sovereign wealth funds” would take money out of the hands of politicians interested in spending in the short-term and instead place it into long-term investments.
The funds are government-owned and managed, but kept separate from other reserves. They would keep generating returns on investment even after a non-renewable resources dries up.Alberta is not contributing to a decades-old fund and B.C. is the only other province to float the idea of a fund. The federal government has also dismissed creation of a sovereign wealth fund. The idea of a sovereign wealth fund — the type that has made every Norwegian a theoretical millionaire — has received renewed interest in the past few months as Canadians take in the economic damage caused by a huge slide in the price of oil...............................................Full Article: Source