Australian Master Builders Seeks $13 Billion Stimulus

By AAP
May 24, 2020 Updated: May 24, 2020

The Master Builders Association is seeking more than $13 billion for a building and construction stimulus package to boost the economy and save jobs.

CEO Denita Wawn has cited economic modelling by Ernst & Young and commissioned by MBA that shows $13.2 billion in stimulus would generate $30.9 billion in gross domestic product and create 105,500 construction jobs.

It also would stimulate $17.6 billion in expanded construction activity in new housing, renovations and commercial construction activity, Wawn said on May 25.

The MBA wants the national cabinet of federal, state and territory leaders, which will meet this week, to consider its stimulus proposal for the industry.

“Building and construction is shaping up to be one of the industries worst hit in the long term by the COVID-19 economic crisis,” she said in a statement.

“We know from previous downturns that it takes four times longer for our industry to recover than the rest of the economy.”

Work for builders and tradies in 2020/21 was already evaporating, she said, and 2021/22 might not be much better.

There is about 400,000 building business in Australia employing 1.2 million people.

Master Builders is also seeking the establishment of a special task force to fast track construction activity.

Canberra