Future Fund Act passes third reading

The Bill that would allow the government to amend the Future Fund passed the third reading in the House of Assembly on Tuesday.

The Bill would remove the requirement for mandatory annual contributions and limit withdrawals from the fund.

Minister of Finance Craig Pardy said, “These changes are intended to strengthen the Future Fund’s original purpose by ensuring it is preserved for debt reduction and long-term fiscal sustainability. By protecting these funds today, we are taking responsible action on behalf of future generations and reinforcing our commitment to prudent financial management.”

Since it has passed the third reading, it will now receive Royal Assent.