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Asides

Greensparty succeeds in influencing Future Fund investment decisions – what could possibly go wrong? #auspol

The Future Fund ought not exist, in our view. It was designed principally to ensure the Commonwealth had enough money to meet its defined benefit superannuation obligations, an objective it could achieve by moving the money into those funds. The consequence of having the Future Fund is that its investments are the focus of attention of politicians, with all sorts of corporate and political megalomaniacs fighting to get on its board because of the prestige associated with managing such a large sum of money. Usually such people are easily influenced by public campaigns. The Greensparty have recently been agitating to get the fund to sell its investments in tobacco companies. They look like succeeding.

After they book that win, no doubt Greensparty demands will extend to miners, energy companies linked to nuclear, agriculture companies they don’t like, timber companies etc. We don’t like smoking much at all but we like Greensparty politicians determining the funds management of the Commonwealth even less.

Discussion

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  1. You left the obvious out of the list of greens boycott targets. anything vaguely connected to Israel or Jews in general.

    Posted by harry buttle | October 26, 2012, 11:58