Labor raid future to hide today's economic failures

A joint media release with
The Hon Angus Taylor MP
Shadow Treasurer

21 November 2024

A Dutton-led Coalition Government would reverse Labor’s plan to direct Australia’s Future Fund to invest in its pet projects.

The Future Fund is an independent sovereign wealth fund – it’s Australians’ money invested in their interest not the government’s to do with as they please.

These changes will impact current and future generations of Australians.

The Future Fund was established with the overwhelming support of the Australian people at the 2004 election. Labor has sought no mandate from the Australian people to make these changes.

The Albanese Government must not undermine the Future Fund’s independence by seeking to direct where and how it can invest to cover up its own policy failures.

In the almost two decades the fund has been in place, no government has ever done this.

Having blown the bank and fuelled inflation with his reckless spending, the Treasurer is now raiding the nation’s nest egg to cover his economic failures.

It would do Katy Gallagher and Jim Chalmers well to remember the Future Fund is a sovereign asset that belongs to all Australians. It is not Labor’s piggy bank for when it can’t deliver on its priorities.

Labor is coming after Australians’ money because it can’t manage the economy.

This government looks more like the Whitlam Government every day.

The reality is, Australians cannot afford another three years of Labor.

The Future Fund is a proud achievement of a Coalition Government that returned the Budget to surplus, paid down debt and made investment decisions that would benefit future generations.

Only a Coalition Government is committed to ensuring the Future Fund remains independent so it can deliver the best returns for the benefit of all Australians now and into the future.