Treasurer Jim Chalmers has directed the Future Fund to prioritise investments in housing, renewable energy and infrastructure, putting his stamp on the sovereign wealth account but opening Labor to criticism that it is politicising the $230 billion fund.
Issuing the first statement of expectations for the independently managed fund in 15 years and a new investment mandate, Dr Chalmers and Finance Minister Katy Gallagher insisted that the changes would not come at the expense of its performance.
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Tom McIlroy is the Financial Review’s Canberra bureau chief based in the press gallery at Parliament House. He was previously the AFR’s political correspondent. Connect with Tom on Twitter. Email Tom at thomas.mcilroy@afr.com
Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com
