Future Fund in slippery Swan’s sights
19th September, 2012
WAYNE Swan has refused to rule-out an unconscionable raid on the retirement benefits of soldiers and public servants in a bid to rescue his floundering budget surplus.With the Gillard government facing a $120 billion budget black hole, the Treasurer fuelled fears that he may zero-in on the Future Fund to finance Labor’s spending spree. The Future Fund was established by the Howard Government in 2006 to safeguard public sector superannuation.
“It would come as cold comfort to superannuants that if the Treasurer does take their entire retirement savings he will scarcely pass the halfway mark in trying to fill his budget black hole,” Leader of The Nationals Warren Truss said.
“At $77 billion (as at 30 June 2012), the Future Fund could only save half of this government’s incompetent economic hide.”
In Question Time today, Mr Truss invited the Treasurer to rule-out seizing Future Fund assets as part of his scramble to pay his bills. It was an invitation Mr Swan ominously avoided, displaying the slipperiness of an eel.
“Chills would have run up the backs of Australians watching their retirement savings slip through the fingers as the Treasurer squirmed incoherently as he refused a simple ‘no’ response,” Mr Truss said.
“The Gillard government is broke and getting broker by the day. And Wayne Swan is not a bloke you could trust in your corner when the chips are down – just ask Kevin Rudd.
“Australian families and businesses are all too familiar with the pain of making ends meet amid spiralling cost of living pressures. As the bills pile up, they are counting the costs of Julia Gillard’s carbon tax lie.
“Yet, that same Julia Gillard is making big spending promises she cannot afford, pledging so many billions that even her own backbench are scratching their heads and asking her to please explain… ‘where is the money coming from?’.
“This is a Prime Minister and Treasurer playing people for mugs and Labor MPs watching the train-wreck in slow motion know it.
“Promising the Australian people $10.5 billion for an NDIS – but wait, only after two more elections; toss in another $6.5 billion for education – oops, not until after the next election; chuck in another $4 billion for a dental package – hold your horses, not until after the next election.
“This Gillard government is bankrupt in more ways than one.”
[ENDS
