South Australia Shadow Treasurer Iain Evans
Snelling’s Embarrassing Back Flip On Wealth Fund
Victor P Taffa
Just three months ago the Liberal Opposition proposed the idea of a State Sovereign Wealth Fund, which the Weatherill Labor Government rejected.
Shadow Treasurer Iain Evans moved a motion in the Parliament’s Economics and Finance Committee on 10 November 2011:
‘That the Economics and Finance Committee investigate the establishment of a State Sovereign wealth fund.’
The motion was not supported by the Labor Government they voted it down!
However, today the Weatherill Labor Government announced that they want to establish a committee to investigate the establishment of a future fund!
“This Labor Government has no new ideas three months ago they reject a proposal, today they suggest it!” Shadow Treasurer Iain Evans said.
“I ask Premier Weatherill, if a State Sovereign Wealth Fund was such a bad idea three months ago, what has changed?”
“It’s taken the Labor Government ten years to consider the future of this State. The back flip announced today is a major embarrassment for Treasurer Snelling.
“With State debt approaching $11 Billion, South Australians will be wondering when there will be money to put into the fund if it’s established!” Mr. Evans said.