A Sovereign Wealth Fund is an attractive thing but it will only work in a country without internal States.
In Australia, the States own the minerals. If the Fed Govt decided to implement a tax, as has been shown, it will, when combined with State royalties, kill the mining industries.
And can you imagine having the likes of Wayne Goose in charge of a Sovereign Wealth Fund?? He was only a few short steps away from plundering everyone's Super Funds. Thank goodness they were booted out.
