this post was submitted on 21 Nov 2024

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Australian Politics

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The Future Fund is Australia's rainy day fund. It has now become a political football (www.abc.net.au)

submitted 6 hours ago by MHLoppy@fedia.io to c/australianpolitics@aussie.zone

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The federal government's decision to have the fund invest in housing and green energy has ruffled Coalition feathers.

[...]

But [treasurer Jim Chalmers] has broken a bipartisan practice that had lasted 18 years: resisting the temptation to ask the fund to do anything other than chase financial returns.

It opens up a debate about what Australia does, and should do, with the hundreds of billions of dollars it has squirrelled away.

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[–] Minarble@aussie.zone 2 points 5 hours ago

Stop pissing around Mr Chalmers and set up a genuine Sovereign Wealth fund like Norway funded by new royalties on oil/gas/coal/ironore/gold/lithium and all the other wealth generated by mining that is being stripped out by international and national mining companies.