In Ray Bradbury’s well-known novel, Something Wicked This Way Comes, an ominous storm portends doom.

It’s a fitting metaphor for what Labor, the Greens and the Teals have unleashed on Australia’s global standing, our sovereign Future Fund, and industry superannuation schemes.

Their actions reflect a relentless obsession with costly and destructive renewables.

It began with Climate Change and Energy Minister Chris Bowen’s missteps at COP29. Bowen pledged $50 million in taxpayer dollars to the United Nations (UN) Fund for Responding to Loss and Damage, meaning Australia will fund countries like China and India (still classified by the UN as “developing countries”) to counter “climate change”.

For struggling Australian families, this is yet another blow from a Labor, Green, and Teal government driven by hubris and waste.

Adding insult to injury, Bowen flatly refused to join an international pact with allies, including our AUKUS partners, to accelerate the development of civilian nuclear energy.

Despite the presence of a functioning nuclear reactor at Lucas Heights in Sydney, Bowen dismissed nuclear energy entirely, refusing to even consider its potential benefits for Australia’s energy future.

His unilateral decision to exclude Australia from this alliance condemns the nation to an overreliance on costly, unreliable, and vulnerable renewables.

Future generations will bear the burden, not only through diminished energy reliability but also from lost opportunities in education, research, and careers in this critical field.

But the storm didn’t end there. The Australian Securities and Investments Commission (ASIC) launched legal action against CBUS, one of the nation’s largest industry super funds managing over $85 billion. ASIC alleges that CBUS delayed processing millions in death and disability payouts, leaving grieving families in financial limbo.

Overseen by Labor mate, former Treasurer, Wayne Swan, the CBUS scandal highlights broader risks within Australia’s $3.9 trillion superannuation sector, particularly in industry funds.

Once again, struggling Australians are left to bear the cost and risks.

To cap off the week, Treasurer Jim Chalmers announced plans to “retool” the $230 billion Future Fund, Australia’s largest sovereign investment fund, now chaired by another Labor mate, Greg Combet.

Established in 2006 by the Howard Liberal government to secure public servant pensions, the Future Fund is now at serious risk of being “politicised”, redirected into Labor/Greens/Teal pet projects, including renewable energy ventures.

This represents a clear departure from the fund’s original purpose, introducing uncertainty for millions of Australians relying on these investments for retirement. 

The spectre of billions being diverted into politically motivated “captain’s picks” raises serious concerns about Labor’s stewardship of the nation’s wealth.

So, “something wicked this way comes”, evidenced by a storm of reckless international decisions, ideological energy policies, and the potential misuse of sovereign wealth. 

Labor, the Greens, and the Teals are clearly endangering the financial security of our nation, neglecting families struggling with the cost of living and economic uncertainty.

Unless we chart a different course at the next federal election, the storms unleashed by Labor, the Greens, and Teals spell doom for all Australians.

Sandra Bourke
ADVANCE Spokeswoman

References:

Australia commits additional $50 million to deal with climate change
Australia declines to join UK and US-led nuclear energy development pact - ABC News
Treasurer Jim Chalmers directs $230 billion Future Fund to focus on housing, green energy and infrastructure | Sky News Australia