Labor’s portable entitlements plan is sound policy

CFMEU Construction & General

“Labor’s commitment to examine portability of entitlements is a welcome and responsible policy and would build on long-standing successful practices in the construction industry,” said Dave Noonan CFMEU National Construction Secretary.

“Portable Long Service Leave in the construction industry has existed since 1974. It is a statutory entitlement.”

“Superannuation in construction has existed since 1985. CBUS has returned over 9% per annum since inception and provides for a decent retirement for hundreds of thousands of workers in construction and other industries.”

“Severance pay schemes have existed since 1987. They provide for income security for construction workers in a cyclical industry and reduce dependence on social security benefits, saving the Federal Government millions.”

“All of these schemes have robust governance.”

“The Master Builders opposed the establishment of all of these institutions at the time, but now sit on the governing boards in partnership with trade unions. Master Builders Australia CEO Denita Warne is Deputy Chair of CBUS, so she is well aware of the high governance standards of the fund.”

“The Hayne Royal Commission examined CBUS and gave the fund a big tick of approval. Master Builders Australia should cease running scare campaigns for the Liberal Party and instead support much needed reform of security of payments for the construction industry.”

“The recent collapses of Probuild, Condev, ABD and others has left small businesses and workers owed millions, yet the MBA refuse to support the recommendations of the Murray review to introduce statutory trusts for subcontractors’ progress payments.”

“In doing so, the MBA is selling out its trade subcontract members in favour of big builders and developers who in too many cases trade on other people’s money and hard work.”

“Silly scare campaigns achieve nothing other than want-to-be Liberal politicians raising their preselection chances at the expense of hard-working building industry participants.”

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