21/2008
25 June 2008
Today the Rudd Government transferred $3.9 billion to the Future Fund.
This brings the total value of the Future Fund to some $65 billion.
This transfer delivers on the Government’s commitment announced in the 2008-09 Budget, to transfer $3.9 billion from the collection of the Telstra 3 final instalment to the Future Fund before 30 June 2008.
The remainder of the Telstra 3 final instalment collection (approximately $2.7 billion) will be transferred to the Building Australia Fund, once it has been established.
With the Future Fund on track to fully fund superannuation liabilities for Australian Government employees by 2020, future surpluses may be directed to other Government priorities, such as the Government’s three new nation building funds, the
Building Australia Fund, the Education Investment Fund and the Health and Hospitals Fund.
The Future Fund Board of Guardians will also manage these new asset Funds.
- ends -
| Media Contact: |
Website: |
| Nardia Dazkiw -0418 144 690 | www.financeminister.gov.au |
