Submitted on Thursday 17th November 2016
Published on Tuesday 22nd November 2016
Current status: Closed
Closed: Tuesday 2nd May 2017
Signatures: 15
A U.K. Sovereign Wealth Fund for the long term finance of Old Age Pensions.
Norway's Sovereign Wealth fund is the worlds largest, with over $700bn in assets - this equates to about £130,000 for each Norwegian citizen. Singapore also provides another example that the UK could emulate. Primary function of said fund is to finance Pensions for an increasingly aging population.
North Sea Oil reserves are dwindling but still generate sizeable revenue for the UK Government. This should be directly invested via a National Wealth Fund with the long term view of funding all pensions. A generous slice of all fuel duty receipt's should also be invested in said fund! As we explore Fracking, NOW is the time to plan ahead for how revenues will be used! Looking at countries like Norway, Singapore and Qatar, A Sovereign Wealth Fund is long overdue for a country as rich as the UK.
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