Outgoing Future Fund chairman blasts carbon tax

David Murray, the outgoing chairman of the Australian government’s Future Fund, has launched a withering attack on the Gillard government, describing the carbon tax as the worst piece of economic reform he has seen.

Ahead of his departure next week, the former Commonwealth Bank head said the tax would be bad for the economy.

Speaking on ABC radio, he also criticised the mining tax, saying it was “clumsily” designed and introduced.

“The timing at the top of the terms of trade was not good,” Murray says.

Murray also attacked the way his successor, businessman David Gonski, was chosen – saying he had advised the government that the majority of the board favoured former treasurer Peter Costello.

“The key is some sort of independence in the selection process,” Murray said.

The $73 billion Future Fund was established in 2006 by the Howard government to pay for the future cost of public sector superannuation liabilities.