Senator the Hon. Mathias Cormann
Minister for Finance
The Canberra Times reported today that legislation developed by the former government will impact adversely on the Australian War Memorial and how they manage donations.
This is not true.
There will be no change in how the War Memorial deals with donations and no money from donations will be taken from the War Memorial.
The Canberra Times also reported that money would be swept every day from the War Memorial's bank accounts to the Department of Finance, on the same basis as the money held by government departments and core government agencies, to allow for overnight investment.
Again, this is not true.
The previous government explored the concept of sweeping for all government entities as an option, but it was never pursued following feedback from stakeholders including the War Memorial.
There will be no change in how donations to the War Memorial are treated. All donations and private contributions to the War Memorial, and other cultural institutions will remain within their custody and control.