The Premier’s State of the State address today again backs the building and construction industry to generate jobs and accelerate the economic recovery, building on stimulus like HomeBuilder and the $10 million Building support program so enthusiastically received by the community.
Master Builders Tasmania Executive Director, Matthew Pollock said: “Last year, at the height of the COVID crisis Master Builders and the Institute of Architects presented a list of stalled projects to the Office of the Coordinator General. This was a key policy position put to government by industry to help drive the COVID economic recovery, boost jobs and confidence to bring back private investment and commercial construction activity.
“Many projects have come back into the pipeline but many have not. The announcement of $30 million in low-interest commercial loans will help unlock the value in the pipeline where projects have stalled. This funding will help keep the momentum in the construction industry to drive our economic recovery.
“The contribution to the economy of this scheme will be many times greater than the $30 million on offer in government loans. Potentially unlocking more than $100 million in construction activity.
“Targeted stimulus where public funding can unlock investment from the private sector is a proven success. Stimulus like HomeBuilder and through the $10 million Building Support Program proves that construction can lead the recovery and that small amount of government support can unlock significant private investment.
“Our ongoing recovery will rely on the private sector doing the heavy lifting. Government stimulus which unlocks private investment is sensible and proven way to accelerate our economic recovery, support jobs and take advantage of the multiplier effect of construction activity. For every $1 spent on a construction project creates $3 in economic activity.” Mr Pollock said.
For further comment contact Matthew Pollock (m) 0409 815 731