“The Budget will be a boost for more 340,000 builders and tradies in every city, town and region,” Denita Wawn, CEO of Master Builders Australia said.
“There are more building and construction businesses than any other type in the economy and this Budget will boost their business success,” she said.
“The Budget measures focus on the right parts of the economy at the right time, particularly areas of strength such as the building and construction sector, the nation’s second largest industry,” Denita Wawn said.
“The Government’s commitment in the Budget to building more new homes and working with state and territory governments to removing barriers to increasing the housing supply will be positive in tackling the housing affordability challenge,” she said.
The Government’s housing affordability package, including financial incentives to state and territory governments to meet housing supply targets and the $1billion to fund urban infrastructure to unlock more ‘shovel ready’ land for housing development will help cut the hidden taxes, red tape and regulatory creep that drive up house prices and help to provide an adequate supply of social housing,” Denita Wawn said.
“The investment in infrastructure, including urban, transport and defence will reap immediate as well as medium and long term benefits. But government procurement and tendering processes must be fair and transparent if communities around Australia are to fully benefit from strengthened economies and more jobs,” Denita Wawn said.
“Master Builders welcomes the announcement of the $1.5 billion Skilling Australians Fund and the additional training of 300,000 apprentices in partnership with state and territory governments. The funding should enable the training that leads to strong employment outcomes for young Australians in industries where there is jobs growth, such as the building and construction industry,” she said.
“The Budget’s small business measures will particularly benefit the building and construction industry which is 98% made up of small businesses. The building industry is a big winner from the extension of the accelerated depreciation measures by one year and to businesses turning over up to $10 million,” Denita Wawn said.
“Finally, Master Builders looks forward to working with the Government to ensure that the substantial potential benefits of the Budget can take hold in the building and construction industry so it can continue to play its role as a key engine of the economy, employment and prosperity,” Denita Wawn said.