The Future Fund goes ballistic
Why is Australia's Future Fund investing in companies that manufacture nuclear weapons? It would seem the government fund is defying its own stated policy on permitted investments.
You must be logged in to read this article
Not a member yet? Register today ›
Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like
Register now ›
Already a member? Sign in here
- Log in to post comments
Comments on this article
Comments PolicyI suppose that under the cloud-cuckoo land proposed by Tim Wright, the Future Fund would be barred from investing in anything in Australia as we sell uranium to China and elsewhere and thus could be seen as contributing to nuclear proliferation, given the leakage in expertise and knowledge between civil and military nuclear programs (See Future fund goes ballistic, June 1).
I thought the future fund was history with stimulus programs, NBN and disaster relief (See Future fund goes ballistic, June 1). Am I paying additional tax this year to maintain the future fund and if so, for what future purpose?
Why is there anything left in the Future Fund (See Future fund goes ballistic, June 1)? All of this money could have gone into paying off the deficit – and been much better invested thereby. Build up a fund when surpluses are healthy. Spend it when the nation is in crisis – isn't that what it's for?
The way things are going in the US with the end of QE2 we should change the name of the Future fund to No Future Fund (See Future fund goes ballistic, June 1).
The Future Fund was established by Howard and Costello to fund the superannuation liabilities of Commonwealth public servants. Part of the proceeds of assets sales (Telstra etc) were rolled into the fund's original equity pool.
Without the fund Australian taxpayers would be exposed to the unfunded superannuation liabilities (See Future fund goes ballistic, June 1).
A country in crisis? Is Russell actually based in Australia, or maybe living in Greece or Zimbabwe? (See 'What's the point in a fund we don't use?', Conversation Contribution, June 2.) As for the Future Fund, in addition to Tim Wright's worthy cause, I would like to see the Future Fund also divest their tobacco industry holdings. It seems a complete conflict of interest for the government to on the one hand limit and discourage smoking, and on the other hand to have the government at arm's length investing in it! (See The Future Fund goes ballistic, June 2.)
Who cares what the 'Future Fund' invests in (See Future fund goes ballistic, June 1).
Why is no one one as angry as I am about the fact that assets collectively owned by all Australians were sold to fund the retirement of public servants and defence force workers.
That is the real issue.
A sovereign fund that ripped off its own people.