Making our regions the engine room of Australia’s economy

I also know that large wage growth will just feed into the inflation cycle, and quickly wipe out these gains," Paul Howes frankly told the viewers of his televised speech.

That's why he advocated that at least half of the promised tax cuts - which threaten to increase interest rates - should actually be converted into superannuation savings.

" This will ensure the money goes somewhere good - my members' retirement savings. It will build up private savings; grow our national savings - rather than adding to consumption demand when inflation is already high."

Improving the national savings base would also help to build the national infrastructure, and create new jobs as well as grow regional communities, the AWU leader said.

" Our big industry superannuation funds must look again at regional Australia for new investment opportunities, and I will advocate for the Rudd Government to provide incentives for these funds to invest locally in our regions," Paul Howes told the National Press Club.

And he explained why the AWU wanted to emphasise the issues of regional Australia.

" The Bush is where my union - the oldest union in Australia - started; and the Australian Workers' Union will never forget that.

" This union is proud of being the oldest union in this country and the biggest blue-collar union in Australia . And we are especially proud of the fact that more than half of the AWU membership lives and works in regional Australia.

" During my first year as AWU National Secretary I will launch a new campaign to secure the jobs of my members in regional Australia and to expand jobs in the regions to provide opportunities for AWU members' and their families."

Read also about the AWU campaign for Portable Long Service Leave