| The government’s budget update was an occasion to despair about the point of the Future Fund, Australia’s $118 billion sovereign wealth fund set up by the Howard government in 2006 mainly from the proceeds from the sale of Telstra. It seems it’s going to be largely wasted, and not invested in the proper sense of the word.
It turns out — highly conveniently for the government — that the first year of the Turnbull government’s (tiny) scheduled budget surplus in the financial year ending June 2021 is the same year the Future Fund’s assets are able to legally be drawn down...............................................Full Article: Source
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