New Bill to Ban Cbus from Labor’s HAFF

Labor, the CFMEU and the Cbus super fund plan to use taxpayer funds invested in the Housing Australia Future Fund (HAFF) for housing developments.

These are the same parties which have imposed a 30% CFMEU tax on construction costs.

The criminal activities of the CFMEU, financed by Cbus and enabled by Labor, are locking young people out of the Australian Dream.

The Coalition will act to protect taxpayer funds invested in the Housing Australia Future Fund being plundered by the CFMEU. As it stands, Cbus could be a participant and beneficiary of the HAFF. Cbus is the only super fund to have publicly committed funding to the HAFF.

The irony of Labor seeking help from the CFMEU/Cbus cartel to fix the housing crisis that has corrupted the construction industry, is not lost on anyone.

Three of the 14 directors of Cbus Super are CFMEU officials. Labor and Cbus have failed to recognise any issue with CFMEU representatives sitting on the board of a $94 billion fund despite the government seeking to put the CFMEU into administration.

Today, the Coalition will introduce a new Bill to ban Cbus from involvement in the HAFF.

The Bill prohibits the HAFF from making any payments to Cbus or housing related entities financed by Cbus. The prohibition will operate while the CFMEU is under administration.

The Coalition reaffirms our strong opposition to Labor’s HAFF. However, we believe taxpayer funds should not be exposed to criminal elements.

If Labor is serious about stamping out corruption and protecting taxpayer funds, they will support our Bill.

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