❓ Mr. Wyatt questions the government's preference for investing in the Future Fund and increasing borrowing over reducing state debt. The Treasurer clarifies the Future Fund's funding sources and reaffirms its original objective.
AnsweredQoN 5083Legislative Assembly
QuestionView source ↗
In
the context of the Total Public Sector Balance Sheet, does the Government
consider the continued investment on new capital into the fund, and the
increased borrowing entailed in financing this investment, preferable to
reducing state debt?
the context of the Total Public Sector Balance Sheet, does the Government
consider the continued investment on new capital into the fund, and the
increased borrowing entailed in financing this investment, preferable to
reducing state debt?
AnswerView source ↗
Answered
23 March 2016
Response time
28 days
The current balance of the Future Fund ($1,023.5 million as at 31 December 2015) has not been financed by borrowings – it has been financed by $932.6 million in ‘seed’ funding from the Royalties for Regions Fund, and $90.9 million in investment returns. In addition, the original objective of the Future Fund–to preserve capital for the benefit of future generations–remains unchanged.
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