NSW’s $15 billion debt retirement fund is likely be mothballed by the Minns government and have its contributions restricted to when the budget is in surplus after a parliamentary report called the fund a risk to the state’s economic position.

NSW Treasurer Daniel Mookhey will consider legislation to tighten rules around contributions to the fund, which was one of the Perrottet government’s signature initiatives. It was set up as a pool for asset sale proceeds that would be invested to grow, and then used to pay down debt.