A new report released today by the Institute of Public Affairs uncovers millions of dollars being used to fund the union movement in the form of industry super fund directors’ fees.
The report, Rivers of Gold: How the Trade Union Movement is Funded by Industry Super, authored by Simon Breheny and Morgan Begg, reveals that more than $18,438,516 million (in 2017 dollars) found its way to Australian trade unions between the 2013-14 and 2016-17 financial years, via the payment of directors’ fees. By contrast, employer and industry groups received $2,076,756 million.
“Industry super funds are being used as a vehicle to transfer millions of dollars from hard-working members to the trade union movement,” said Simon Breheny, Director of Policy at the IPA.
The IPA’s research demonstrates that the three largest union recipients of these fees are:
- Construction, Forestry, Mining and Energy Union – $2,884,168
- United Voice – $2,386,164
- Australian Council of Trade Unions – $2,050,363
“At a time when less than 1 in 10 workers in the productive sectors of the economy is a member of a trade union, it is clear the industry fund model has been very significantly undermined.”
“Significant efforts should be made to stop members’ funds being funnelled from industry funds to the union movement,” said Mr Breheny.
Download the media release here.
For media coordination: Evan Mulholland, Media and Communications Manager, on 0405 140 780, or at [email protected]
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