House of Assembly Fifty-Third Parliament, Second Session (53-2) 53 2 Parliament of South Australia House of Assembly published Estimates Replies Future Fund Future Fund In reply to Mr MARSHALL House of Assembly Dunstan Leader of the Opposition Future Fund In reply to Mr MARSHALL (Dunstan—Leader of the Opposition) (28 July 2016). (Estimates Committee A) The Hon. J.W. WEATHERILL House of Assembly Cheltenham Premier Future Fund The Hon. J.W. WEATHERILL (Cheltenham—Premier): I have been advised: A Future Fund model has been developed that sets aside a portion of royalty revenues (taking into account horizontal fiscal equalisation) and above trend growth in taxation and GST revenues, subject to the achievement of a net operating surplus. Under the model, additional monies could also be contributed to the fund at the discretion of the Treasurer. A bill based on this model has been drafted. The introduction of the bill is pending the government's response to the Nuclear Fuel Cycle Royal Commission. The need for a Future Fund has become less urgent given the current trends of the mining industry. The commission's report, delivered in May 2016, proposed the establishment of a State Wealth Fund to ensure that the economic benefits associated with an inter-generational nuclear waste storage facility will flow to future generations of South Australians and also a Reserve Fund, to provide for the costs of decommissioning, remediation, closure of the facility and long-term monitoring. The government's response to the royal commission's report will be informed by extensive statewide community engagement and consultation, including two citizens' juries.