Leverage foreign investment into improved infrastructure, skills and secure jobs

17 February 2010

Australian governments should leverage investment from foreign sovereign wealth funds to improve national infrastructure investment, skills and industry - through a new Sovereign Capital Trading Scheme, and a related Australian Endowment Fund, The Australian Workers' Union (AWU) said today.

In a wide-ranging speech on job creation and job security the national leader of the AWU, Paul Howes, also released today the latest update of the union's annual AWU Auspoll Job Satisfaction Index - which tracks changes in attitudes to jobs, and job security.

Mr Howes made his comments, and released the poll, when he gave a key note speech at the National Press Club in Canberra today.

Job Satisfaction Index

This year's Job Satisfaction Index shows that while there is now increased confidence in our economy, this optimism has not yet been translated into positive personal experiences.

" As the effect of the Government's stimulus package has washed through Australia working people are now less worried about the national economic situation continuing to deteriorate," Paul Howes told the National Press Club.

" But at a personal level working Australians continue to worry about the future of their own jobs.

" Our poll shows workers are in fact more likely to report difficulties at work in the last six months - such as increased workload or losing their job - than they did at the same time last year."

Union's job is to stand and fight for the jobs of working people

Paul Howes said the poll pointed to the continuing high standing that unions have among working people who want their voice heard in the workplace, and who are concerned about job security.

" Our job is to stand and fight for working people. The AWU wants the Federal Government to continue to create good jobs - to continue to use their infrastructure investments to create work. We are not out of the woods yet. We have to defend the right of working people to have jobs and job security.

" This government faced a terrible situation almost from the day it got elected, because the crisis hit just after the last Federal election. But the government acted to save the economy from total collapse, and initiated the projects which saved the jobs of working Australians."

Chinese investment in Australia

The AWU National Secretary, Paul Howes, told his National Press Club audience that we should not be afraid of China, and their huge pool of investment funds.

"In a globalised world labour unions have to think globally, organise globally and yes accept that sometimes head office will be in China," Paul Howes said.

However that does not mean allowing sovereign government investment without some constraints to ensure the interests of our people are protected.

" Banning these investments could threaten our own investments abroad - put them at risk of being banned as well in reprisal, by more vengeful governments, more protectionist governments, more selfish governments than our own.

" However if we are to behave responsibly we must put into place a fund which encourages investment in value adding activities in Australia; in participation with our local partners and local communities."

Workers' entitlements

The AWU leader has called for reforms to our Corporations Act to put workers' entitlements at the front of the queue saying they should precede banks and other financial lenders in the queue for repayment.

" Security of entitlements will be an on-going area of policy focus for the AWU this year our number one priority, as we enter a number of EBA negotiations," Paul Howes said.

Guest workers

In his televised speech the Australian Workers' Union leader also called for a fair and transparent system to allow guest workers access to Australian jobs.

" We need a fair and transparent programme, based on our fair go traditions - fair for Australian workers and fair for foreign workers.

" We do not need to see again, and pray God we never see again, the ugly arrangements of the Howard years, so close to the years of blackbirding a century back, of guest workers kept filthily in chook houses, and paid wages as if they were slaves from the 19th century.

" We do not need to hear again the stories of those years, the rumours from those years, the stories my union officials heard first hand, of criminal harassment, embezzlement of salaries, and casual rape. "

How some of the media reported the National Press Club speech

• Employers should put workers' entitlements first, says AWU ( The Australian)

• Worker confidence high despite rural job losses (ABC)

• AWU dubs Abbott the Liberal Latham ( Melbourne Age)

• Abbott attacked for painting workers as victims (SMH)

• Unions must not fear Chinese investment, AWU boss Paul Howes says ( The Australian)

• Abbott the 'Liberal Latham' - AWU boss (AAP)

• Tony Abbott is the Liberals' version of Mark Latham, AWU boss Paul Howes says  (The Australian)