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Sovereign Wealth Fund

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Manufacturing taskforce backs Greens call for Sovereign Wealth Fund inquiry

Greens Deputy Leader and industry spokesperson Adam Bandt has welcomed the release of the Manufacturing Taskforce's report today. Mr Bandt says he will move in Parliament to implement the Taskforce's recommendation for an inquiry into a Sovereign Wealth Fund.

"The manufacturing sector has lost 125,000 jobs in the last four years. We know that the high Australian dollar, in part created by the mining boom, has put pressure on our manufacturing businesses and pressure on jobs", Mr Bandt said.

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Greens to push vote on Sovereign Wealth Fund: Bandt

Adam Bandt 18 May 2012

Following today's renewed support from Opposition front bencher, Malcolm Turnbull, for the Greens' policy to create a sovereign wealth fund, the Greens Deputy Leader and MP, Adam Bandt, said he would bring on a vote in Parliament on the issue next week.

Mr Bandt's motion, currently before Parliament, would start the process of establishing a new sovereign wealth fund in Australia.

"We need to take some of the benefits of the mining boom and put them away to fund this country's future infrastructure needs" Mr Bandt said.

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