GSD to probe Gibraltar Sovereign Wealth Fund in parliament 

The GSD has filed 35 questions for next week’s meeting of Parliament seeking more information about the Gibraltar Sovereign Wealth Fund announced by the Government earlier this year, focusing on its structure, control, accountability and financial reporting.  

The party said the questions follow references to the fund in the 2026 Budget and the Chief Minister’s 2026 New Year’s message. 

GSD Shadow Minister for Public Finance Roy Clinton said he had spent the summer analysing information made public about the fund and raised questions over how it was structured and operated. 

“From the information I have found in the public domain the structure is complex and not what I would consider usual in the context of conventional Sovereign Wealth Funds,” he said. 

Mr Clinton said it was not clear whether there was a legal entity constituting the Gibraltar Sovereign Wealth Fund, who was responsible for its day-to-day direction and what financial reporting arrangements were in place. 

He also questioned the Government of Gibraltar’s role in financing arrangements linked to a private equity group purchasing care homes in the UK, citing debt of £544.7 million. 

“So as to understand the impact of the undertakings entered into by the Government in the guise of a Sovereign Wealth Fund, I have today filed 35 questions seeking detailed information on structure, control, management, accountability, transparency, conflicts of interest and financial reporting and audit,” he said. 

Mr Clinton called on the Government to provide full responses to the questions when they are considered in Parliament.  

The 35 questions broadly cover the fund’s legal structure and governance, its management and decision-making arrangements, financial exposure and reporting, and the documentation and relationships underpinning its activities.  

Responding to the GSD statement, the Government said it would answer all 35 questions tabled by Mr Clinton, accusing the Opposition of taking an “alarmist approach” to the initiative. 

It described the Sovereign Wealth Fund as “excellent” and said providing answers in Parliament would ensure people were not “misled or unnecessarily concerned” by the GSD’s approach. 

“I look forward to answering Mr Clinton’s questions and laying out for the public all the benefits that it will bring for our community and our long-term financial security,” said Chief Minister Fabian Picardo. 

“I trust that there will be no cynicism in the approach from Mr Clinton to our initiative and that he will fully support the Gibraltar Sovereign Wealth Fund and the potential for it to produce magnificent results for our people and in particular future generations of Gibraltarians."