Building industry directors are calling for the regulation of union redundancy funds to be an election issue after accusing the CFMEU’s Victorian fund of unlawfully misusing millions of dollars in workers’ money and arguing the union uses the fund to strongarm employer groups.

Master Builders Victoria directors Raymond French, Lisa Hollingsworth and Greg Cole last week wrote to opposition workplace spokeswoman Michaelia Cash to ask her to lead “systematic change” in the unregulated space due to concerns over the CFMEU’s $1.2 billion fund Incolink.