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.
@MHLoppy The Future Fund is not Australia’s rainy day fund. It exists purely to try to cover some of the Public Service’s huge unfunded pension liabilities.
Unfortunately, there is nothing in it for the rest of us for a rainy day.
I’d say a targeted rainy day fund probably still qualifies as a “rainy day fund”, but I suppose the wording choice could have been clearer.