Opinion
‘I would not have agreed to Future Fund shift’
With $230 billion to come into play, expect a long line of rent-seekers to form a queue, says former treasurer and Future Fund founder Peter Costello.
Peter CostelloFormer federal treasurerThe announcement by the current Labor government that it will change the investment mandate of the Future Fund breaks nearly 20 years of bipartisan agreement that the fund should not be directed at specific investments or specific sectors.
Peter Costello (left) set up the Future Fund when he was treasurer. Changes put in place by Treasurer Jim Chalmers (centre) that will be acted on by the new Future Fund chairman Greg Combet (right) risk making it a “slush fund”, Costello says. Harry Afentoglou
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