It's the typical Labor grab for money it has hasn't earned. Millions of dollars have already flowed through the Fed's cofers via the resources boom through the normal taxation system. And what have they done with it? They have spent it all and MORE ,like a bunch of drunken sailors (with apologies to sailors.).
If we are to believe the sincerity of this Federal Government it should follow Peter Costello's example under which the proceeds from the Telstra sale were earmaredk the money for a specific LONG TERM purpose. Or better stil,lt should follow the Norwegian experience and set aside this money in a special designated fund,which can not be touched, which will earn money on a regular basis for future generations.
That's what I would term wise long term thinking and not just populist money grab to satisfy today's generation!
