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the future fund gig was a ******* sinecure.
and frankly, the most wasteful treasurer (current occupant except3d), ensured that any wealth generated during a once in a lifetime boom was surrendered chasing electoral advantage.
The biggest crime is every treasurer since Costello has lacked the cohunas to claw back the middle class welfare that the Howard Government introduced. Howard/Costello could afford (poor policy at best) them but the lightweights since them can not. Spineless effort by all since.
On 5 May 2006, A$18 billion, derived from government surpluses as well as income from the sale of a third of Telstra in its ongoing privatisation, was deposited into the fund. February 2007, the government transferred the Commonwealth's remaining 17% stake in Telstra, valued at A$8.9 billion, into the Fund.