Raff Ciccone (Victoria, Australian Labor Party) Share this | Hansard source

On behalf of the government I just want to say a couple of words. The government will not be supporting this motion. The government is strengthening the superannuation system so that more Australians can retire with more money in their pockets and with dignity. Since coming into office, the government has also implemented a strong record on expanding transparency within the superannuation sector. We've expanded the superannuation performance test and required superannuation funds to lodge reports with ASIC in line with reporting standards for public companies, and we are working with APRA to publish a transparency report of fund expenditure data.

It is of critical importance that superannuation funds make decisions that are in the best interests of their members, and that is what the law requires of them. The law also requires all trustees to operate to the highest standards of governance and performance. Trustees are required to ensure that directors and senior managers meet fit and proper requirements prior to appointment and on an ongoing basis.

It is appropriate that the independent regulator, APRA, has required Cbus to conduct an independent review into recent issues. APRA has not alleged any wrongdoing that has impacted superannuation members. This process should be followed without any political interference.

The government is also taking action to address allegations of misconduct, corruption and criminality within the construction division of the CFMEU. We'll no doubt deal with this later today through government legislation which will enable the minister to determine whether it is in the public interest to appoint an independent external administrator to the CFMEU construction division. The independent administrator would have the power to investigate allegations of misconduct by officials of the construction division. The government has also referred allegations to the Australian Federal Police and the Fair Work Ombudsman.

Working in construction is hard and dangerous, and union members and workers in the industry need a strong, effective union. They need one that is clean and free from constant allegations of organised crime, bikies and violence.