Builders back budget focus on small business, skills and infrastructure

Builders around the country will back the key initiatives in the Federal Budget that will help promote economic growth across the country.

“The return to surplus will boost confidence that the economy is back on track and will give builders the incentive to invest, create jobs, hire more people and take on more apprentices,” says Denita Wawn, CEO of Master Builders Australia.

“Master Builders welcomes the Government’s announcements on new investment in skills, infrastructure and small business because they are targeted at what’s needed to strengthen the economy,

“The government deserves credit for heeding Master Builders call for the instant asset tax write off scheme to be increased and expanded. Thousands of small business builders in communities around the country will benefit from the increase to $30,000, but more importantly, the significant expansion of the eligibility threshold to $50 million annual turnover," says Wawn.

“Likewise, builders will strongly back the additional investment to train an additional 80,000 new apprentices in industries experiencing skills shortages including building and construction,

“Infrastructure investment right across the country, to build economic growth nationally and in local communities, is fundamental to the success of our industry and the economy. It will underpin economic growth in our cities and regions many of which are experiencing economic downturn. However, these projects need to be fast tracked so that work can commence and be accessible to local businesses.

“While there was good economic news in this budget, Master Builders is concerned that Treasury, in line with Master Builders forecasts, predicts a seven percent decline in housing investment. This reinforces the need to ensure that all housing investment incentives remain intact,” says Wawn.

Image: 123rf's Sugeng Prastowo © 123rf.com