February 18, 2009

Future funds fiddled

In case anyone is wondering where the stimulus cash came from, three future funds have had $15 billion wiped from their allocations for 2008-09.

The Education Investment Fund, which holds $8.7 billion for universities and TAFE colleges will miss out on $2.5 billion.

The Health and Hospitals Fund, which holds $5 billion from last financial year, was going to turn into $10 billion basket this year, but now won't.

The Building Australia Fund, for critical infrastructure, which holds $12.6 billion, will miss out on another $7.4 billion.

The deficit for 2008-09 is currently forecast to be $22.5 billion. I'm betting it goes higher.

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