Saturday, December 14, 2013

Making the case for a sovereign wealth fund

Sam Wills in the Sidney Morning Herald: Holden has announced that its manufacturing in Australia will drive off into the sunset by 2017. GM's chairman Dan Akerson attributed this to the “sustained strength of the Australian dollar [and] high cost of production”, or, in other words, Dutch disease. To prevent other exporters doing the same Australia must strengthen its mining tax and save the proceeds in a sovereign wealth fund...

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