Labor setting unions up to be your landlord

The Albanese Government is a government for vested interests. 

There are a number of Ministers in the government who have gone above and beyond for their favourite friends at the unions or the super funds.

An 18 month effort to expose the influence of vested interests on policy making has yielded troubling information. 

It’s unacceptable that the Treasurer would make a false claim about anything, let alone a false claim for a vested interest.

On 6 November 2023, Jim Chalmers falsely signed a public interest immunity claim to block an Order of the Senate requiring production of documents provided by Cbus.

This Order was advanced because I was concerned that Cbus was unduly influencing government policy. I was grateful the Senate supported the order. 

However it was stymied by Mr Chalmers. 

In the Treasurer’s letter to the Senate, he said: disclosure “would provide an unfair insight into CBUS’ private opinions” and “would have the potential to damage their commercial affairs”. 

He sought a “commercial-in-confidence” public interest immunity exemption.

The trouble is that there was no commercially sensitive information.

I also had a freedom of information request lodged with Chalmers for the same documents. 

Chalmers also blocked this request. Accordingly, I appealed to the Information Commissioner. 

The Information Commissioner found: 

"I do not accept that the remaining material would cause detriment if it were disclosed. The remaining material does not contain specific commercial information about the fund, rather it sets out its concerns about the operation of a particular area of superannuation regulation."

The document was provided to me last week. 

It revealed Cbus was trying to lobby the Treasurer to remove the regulatory requirement to include stamp duty in their fees and costs disclosures, because it acts as a “barrier to institutional investment in Australian Property”.

According to their secret brief provided to the Treasurer, Cbus doesn’t want to disclose stamp duty costs which is for consumers to compare fees and costs across super funds.

They wanted an exemption so Cbus wouldn’t have to show their stamp duty costs on property. 

Why did Jim Chalmers try so hard to cover up this document? Why did he lie to the Senate?

The reason is Labor wants the super funds to own the Australian Dream.

For almost 18 months, Jim Chalmers and Cbus have engaged in a cover up. The documents reveal the deep ambition of super funds to become corporate landlords.

Former Treasurer Wayne Swan is the chair of Cbus. Clearly the fund’s special status was used to seek a special deal to conceal fees from members and Chalmers covered it up.

There were no commercial secrets, it was putrid rent-seeking as part of a sick corporate housing agenda.

The Australian people want to live in their own house, not a house owned by Cbus.

Former Senator and transparency advocate Rex Patrick says of this saga: 

“Chalmers’ actions made a mockery of the parliamentary process. How is it that Mr Bragg, as a private citizen, can get documents under FOI that Senator Bragg could not get using the powers of the Senate.”

Patrick went on to say:

“Ultimately Chalmer’s Senate betrayal is a betrayal of the Australian public – who are the real source of the Senate’s power and purpose.”

Labor will do anything to help their mates - especially if it's about super funds becoming corporate landlords. Thank goodness for the Information Commissioner. 

I’m sure the Treasurer would like to forget his false statement in his public interest immunity claim. How can anyone believe what he says in the future?

We will be pursuing this breach of public trust. That is the job we have as Senators. 

It’s another reason why Cbus is not an appropriate party for the Commonwealth to engage as is proposed through Housing Australia. 

Wayne Swan has publicly committed $500 million of Cbus’ members money to co invest with Housing Australia. Cbus is 21 percent owned by the disgraced CFMEU. 

We cannot put taxpayer funds at risk of being further plundered by the CFMEU/Cbus cartel. 

The CFMEU cartel has made housing unaffordable by imposing an effective 30% tax on apartment buildings. They are the last people the government should turn to for help with housing. 

The Australian people expect we will protect their funds and hold the government accountable. Labor promised transparency and integrity. They have broken their promise. 

Helping CFMEU/Cbus with taxpayer funds or special deals is not in the public interest and it will be resisted by the Coalition.

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Senator Andrew Bragg is the Coalition’s spokesperson for home ownership 

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