The Future Drought Fund (FDF) is a fund established in Australia by the
Morrison government
The Morrison government was the Australian Government, federal executive government of Australia, led by Prime Minister of Australia, Prime Minister Scott Morrison of the Liberal Party of Australia, between 2018 and 2022. The Morrison governmen ...
.
It is managed by the
Future Fund
The Future Fund is an independently managed sovereign wealth fund established in 2006 to strengthen the Australian Government's long-term financial position by making provision for unfunded superannuation liabilities for public servants that wil ...
, with interest generated going to medical research. In 2023, the FDF had a capitalisation of .
Purpose
The purpose of the fund is to prepare farmers, agribusinesses and rural communities for drought, in order to adapt to climate change.
Establishment
The fund was established on 1 September 2019. It was formed from the Building Australia Fund, which had sat dormant since 2014/2015.
Labor had criticized the policy originally, suggesting it was "stealing" money away from infrastructure.
See also
*
Australian federal budget
An Australian federal budget is a document that sets out the estimated revenues and expenditures of the Australian Treasury in the following financial year, proposed conduct of Australian government operations in that period, and its fiscal pol ...
References
{{reflist
External links
Future Drought Fund Act 2019 2019 establishments in Australia
Future Fund
Drought in Australia
Morrison government