It’s not too late to safeguard a 21st century economy - Brown

The Australian Greens will push for a sovereign wealth fund to help fund the needs of future generations, as well as seek to improve budget measures in the immediate budget cycle, Greens Leader Bob Brown said today.

"A sovereign wealth fund could underpin Australia's move into a low-carbon future, serving as a source of funding for long-term projects such as high-speed rail and metro light rail," Senator Brown said in Hobart.

"As well as acting as a savings pool to help fund the development of a cleaner and safer nation, a sovereign wealth fund would start to accumulate the asset base needed to help ease future budget pressures coming from an ageing population."

"The Australian Greens have been calling for a sovereign wealth fund since early 2010, urging the government to set aside funds flowing from the resources sector in particular to help fund the needs of future generations."