Jim Chalmers insists Labor is making only a subtle change to the sovereign wealth fund’s investment mandate. But getting politicians involved is a slippery slope.
Treasurer Jim Chalmers is heading down a slippery slope by nudging the $230 billion Future Fund towards Labor’s priorities of supporting the energy transition, the supply of residential housing and infrastructure.
The fund’s investment success has depended on the board of guardians making investment decisions independent of government to maximise long-term financial returns for taxpayers and future generations.
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John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
