The government is proposing setting up a sovereign wealth fund next year, modelled on successful ventures in other countries in order to manage windfall corporate tax revenues. The decision to establish the fund is timely, given that expected fiscal surpluses will be in the region of €65 billion over the coming three years. The stated intention is to establish the fund with a view to helping with expected cost increases due to the aging population – something that this column addressed several weeks ago. In establishing the fund, there are several important issues that should be addressed at the outset,…

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