Treasurer Jim Chalmers has made major changes to the investment mandate of Australia’s $230 billion Future Fund to direct funds to Labor’s agenda.
Treasurer Jim Chalmers has overhauled the investment mandate of Australia’s $230 billion sovereign wealth fund to drive capital into Labor ’s priorities, including renewable energy.
Treasurer Jim Chalmers has announced a major change to Australia's sovereign wealth fund, the $230 billion Future Fund. Picture Lachie Millard The Future Fund was established in 2006 by the Howard government to cover unfunded superannuation liabilities for federal employees. “This will mean more investment where we need it most but not at the expense of returns,” Mr Chalmers said.
The decision has drawn sharp criticism from the Coalition as Deputy Opposition Leader Sussan Ley told Sky News the mandate directed funds to Labor’s “pet projects”.
Investment Mandate Housing Albanese Government Treasurer Future Fund Renewables Jim Chalmers Labor Sovereign Wealth Fund Opposition Sussan Ley Treasury Infrastructure Australian Politics Katy Gallagher
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