Hands off, the Future Fund is not a political slush pool
Treasurer Jim Chalmers’ plan means that a cornerstone of Australia’s financial security is suddenly viewed as a mere piggy bank for the latest government whim.
When former treasurer Peter Costello established the Future Fund in 2006, he did so with a clear purpose: to safeguard Australia’s financial future.
The fund was designed to be a reliable, independent financial institution that would secure future government liabilities, especially pensions, without burdening future taxpayers. The idea was simple – manage Australia’s wealth with the same care you would manage your own family’s finances.
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Spiro Premetis is a former Treasury official who was an adviser to Josh Frydenberg from 2020 to 2021.
