Western Australia moves forward on sovereign fund plans
The Western Australia government appears to have accelerated plans to set up a sovereign wealth fund to accrue a portion of the profits being generated by the region’s natural resources. Premier Colin Barnett mooted the prospect of a future fund that would take a cut of royalties or budget surpluses in March of last year and confirmed in December that it was on his administration’s agenda.
Barnett told the state parliament this week that details of the fund would be announced in the May budget. "The Liberal-National government is committed to ensuring future generations of West Australians...
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