Labor to raid the Future Fund
Australians need to be concerned about the revelation that the Federal Treasurer, Wayne Swan intends to raid the Future Fund.
Recent press reports confirm that the Gillard Government intends to withdraw more than $250 million worth of assets in the 2012-2013 financial year, despite the fact that the Fund, which was established in 2006 by the then Federal Treasurer Peter Costello, with the condition that it was not to be touched before 2020.
Philip Ruddock, Federal Member for Berowra asserts that this shows ‘just how desperate this Government has become.’
‘It can’t control its spending, so is seeking to raid the Future Fund to balance its Budget.’
Mr Ruddock said the Coalition will not do so as they will ‘not be engaging in the reckless spending that has been the hallmark of this government, rather we will be running surplus budgets.’
By raiding the Future Fund, the Gillard Government is using the superannuation savings of Australians to pay for its wasteful ways, but they should remember that this money was set aside for the future of Australians.
‘They are putting their own shaky short term political future ahead of the long term future needs of the nation.’