• BOOMING BUDGET FOR BUILDING INDUSTRY

    Overall the Budget will boost confidence in the building and construction industry. 

    “Building and construction investment is a major driver of the improvement in the Budget position,” Denita Wawn, CEO of Master Builders Australia said. 

    “Reducing the tax burden on households and small business is good for the economy and good for builders. People may decide to renovate their kitchen sooner or buy their first home faster,” she said. 

    “It’s also great news that our many small builders who are sole traders will also get tax relief in this Budget,” Denita Wawn said. 

    “Master Builders called for more certainty for state and territory governments to sign up to the $1.5 billion Skilling Australians Fund (SAF) and the Government has listened. The SAF will focus on funding for new apprentice training initiatives, that are no longer conditional on a levy of skilled migration,” she said. 

    $250 million is available for state and territories in this financial year, a share of an $50 million is available for governments that sign-up to the SAF prior to June 7 and $50 million per year over four years is available to states and territories who are signed up to the SAF. 

    “The Government’s infrastructure Budget will play a key role in setting the nation up for future prosperity. The additional $24 billion investment in infrastructure across the country will boost the productivity and liveability of our cities,” she said. 

    New South Wales 
    The Government will provide $1.5 billion for priority regional and urban infrastructure in New South Wales, including: 
     Port Botany Rail Line duplication funding increased to $400 million, from $105 million announced in the 2017 Budget. 
     $50 million for Western Sydney Airport business case. 
     $971 million for the Pacific Highway Coffs Harbour Bypass, adding to the $5.6 billion included in the 2017-18 Budget for the Pacific Highway duplication. 
     $155 million for the Nowra Bridge 

    The list above adds to an extensive list of projects already underway with Federal funding across the State, led by:

     $5.3 billion for Western Sydney Airport. Works will commence by late 2018 and airport operations will begin by 2026. 
     $2.9 billion for the Western Sydney Infrastructure Plan, with $725 million to be provided in 2017-18. 
     $1.5 billion of funding and a $2 billion concessional loan for the WestConnex project in Sydney, $720 million of the loan to be made available in 2017-18. 

    Western Sydney City Deal - $125 million over five years from 2017-18 to support infrastructure projects and liveability initiatives (more detail is found above under the section for housing). 

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