Dutton too late the hero with sovereign wealth funds

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Great ideas, these.

Peter Dutton would funnel 80 per cent of commodity revenue windfalls into two new Future Fund ­vehicles to pay down the nation’s $1.2 trillion debt bill and bankroll investments in regional Australia, as the Coalition ramps up its ­attacks on Labor’s big-spending budget and deficits.

The Opposition Leader on Thursday will unveil a centrepiece of his economic strategy to turn around Labor’s projected decade of rising debt and deficits and pledge to restore fiscal guardrails the Coalition accuses Jim Chalmers and Katy Gallagher of abandoning.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.