27.11.2015 - Britain joins sovereign wealth party too late
Sovereign wealth funds are supposed to help resource-rich countries plan for the future and broaden their economies. Britainís version of a SWF unveiled by finance minister George Osborne on Nov. 25 will do neither. It is also unlikely to meet its primary objective of swaying opponents of shale gas developments to think otherwise. Osborne said the Shale Wealth Fund could be worth up to 1 billion pounds over time. According to the finance ministry, this would be funded by siphoning off 10 percent of the revenue it expects to rake in over the next 25 years from companies fracking in the UK...............................................Full Article: Source
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