[LINK] Ergas article in the Oz

[Marghanita da Cruz]

> At 8:55 AM +1000 28/6/10, Richard Chirgwin wrote:
>> My comments within the article. Note that I have not reproduced the
>> entire piece
>>
>> http://www.theaustralian.com.au/politics/opinion/well-pay-dearly-for-this-nbn-folly/story-e6frgd0x-1225884951797
<snip>
>>>  Last Sunday, the government announced an initial deal between Telstra
>>>  and the National Broadband Network Company. Under its terms, Telstra
>>>  will receive payments and benefits totalling $11bn post-tax. On top of
>>>  that, taxpayers will have to invest about $40bn of their own money.
>> [RC: the NBN build price tag is uncertain; the investment is intended to
>> yield a return. Finally, it is an investment out of a specific
>> instrument, the "Future Fund", which is not general revenue and is not,
>> strictly speaking, taxpayer funds.]

....bit more on the future fund... (some Telstra shares were
sold - though I don't recall whether that was before or
after 31 march)
> The Future Fund was established by the Future Fund Act 2006 to assist future Australian governments meet the cost of public sector superannuation liabilities by delivering investment returns on contributions to the Fund. 
> 
> Investment of the Future Fund is the responsibility of the Future Fund Board of Guardians with the support of the Future Fund Management Agency. The Board and Agency also invest the assets of the Building Australia Fund, the Education Investment Fund and the Health and Hospitals Fund which were established by the Nation-building Funds Act 2008.
....
> $67.62 billion
> 
> Future Fund assets at 31 March 2010 (includes Telstra shares valued at $3.9 billion)
<http://www.futurefund.gov.au/>

Marghanita
-- 
Marghanita da Cruz
http://ramin.com.au
Tel: 0414-869202