Chalmers defends Future Fund investment plans against Costello's criticism

Treasurer Jim Chalmers has criticized former Treasurer Peter Costello for opposing plans to direct the $230 billion Future Fund towards new homes, renewable energy, and cybersecurity. Chalmers argues that the fund must adapt to current economic challenges. Costello, who created the fund in 2006, claims the proposal could damage its reputation and turn it into a "political slush fund." Chalmers insists the fund should evolve to meet Australia’s national priorities while still achieving its financial goals. Chalmers indicated that this issue will be a key topic in the upcoming election, contrasting Labor's investment plans with the Coalition's stance. Fund chairman Greg Combet reaffirmed the commitment to prioritize returns while considering domestic investment opportunities.