A Sovereign Wealth Fund for South Australia

South Australian Premier Jay Weatherill

South Australian Premier Jay Weatherill

South Australian Premier Jay Weatherill has announced the establishment of a future fund for South Australia’s state government. The public fund’s objectives, according to a statement, will be to quarantine “money to be spent on infrastructure, children, families and the workforce.”

The Sovereign Wealth Fund Institute reported the idea of a South Australian wealth fund back in February 2012.

Mr. Weatherill stated that the wealth fund will be capitalized through excess petroleum and mineral revenues only if the state budget is in surplus. He estimates that the first cash infusion will take place as early as 2015 with about A$ 20 million.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


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