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Welcome aboard Mr Costello.

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HON. SIMON CREAN MP Federal Labor Shadow Treasurer

10 September 2004

Welcome aboard Mr Costello

Labor welcomes Mr Costello’s announcement today, following Labor’s lead, of an intergenerational fund - which he has now called a Future Fund - in the Budget.

We advocated this after Mr Costello’s May Budget as part of the solution to Australia’s long term, intergenerational challenges.

While Mr Costello ridiculed Labor’s ideas day after day, we welcome his about-turn just before the election to now come on board.

But he can go further and ensure that the intergenerational fund is not just limited to superannuation liabilities but include the pressing economic investment needs of our nation.

Mr Costello’s adoption today of an intergenerational fund recognises that Labor’s economic management strategy is the right solution for Australian’s future.

Contact: Praadeep Philip 0416 214 769