Queensland’s Building Boom Brings Economic Win-Win for State’s Tradies and Consumers
Queensland’s Building and Construction Commission is set to increase support for Queenslander tradies to ensure they reap the substantial benefits from the building boom set to hit the state in 2021.
Minister for Public Works and Procurement Mick de Brenni stated there had been a huge 83% increase in building approvals across Queensland due to industry reformsimplemented by the Palaszczuk Government. He added that Queenslander tradies would be the first to take advantage of this exciting opportunity.
“Underpinning Queensland’s economic recovery plan is more than $11 billion in initiatives to keep Queenslanders in jobs.
“It includes the $100 million Works for Tradies social housing construction stimulus, $106 million to stimulate the building market for new homes as well as up to $100 million in small business grants to help sustain small businesses so they can respond quickly post COVID-19.
Mr de Brennistated that the QBCC had prioritized Queenslanders in stepping up available resources and more importantly free information sessions to ensure they have the tools and appropriate understanding to be able to get the most from this building boom; with a particular focus on small businesses.
“The QBCC upholds the standards within this $45 billion industry to make sure that tradies and small business can get paid in full, on time, every time.
“QBCC Tradie Tours are filling up fast and I’d encourage tradies to book now and secure themselves a ticket, however a spot will be made for every single licensee who needs assistance.
QBCC Commissioner Brett Bassett said the structured seminars and lectures would outline a number of tips and tricks in how to avoid messy financial common mistakes and the reporting process when lodging financial reports.
“The seminars will explain new financial reporting for licensees in Self-Certifying Categories 1 and 2, who are required to lodge their information by 31 March to stay licensed,” Mr Bassett said.
“The industry collaborated to redesign financial reporting to help ensure the financial sustainability of the industry and the businesses and tradies who operate within it.
“These requirements were introduced to reduce financial failure, liquidations and bankruptcy within the industry, and ensure that people get paid for the work they do,” he said.
Mr de Brenniadded that the Palaszczuk Government was making sure Queenslanders who are investing in new-builds or home renovations post Covid-19 could be confident that their chosen licensed builder was financially stable, as a result of these teachings.
“The Palaszczuk Government has given the QBCC stronger powers to help it oversee and enforce compliance with the financial framework to protect both homeowners and tradies, and is working with industry to promote awareness and understanding of the reforms.
“Already, Minimum Financial Requirement reporting has seen $1.2 billion of working capital injected into the Queensland Building and Construction industry last year,” Mr de Brenni said.
“That’s money being re-invested in tradies and small businesses whether it’s a new ute, upgrading the tools or taking on apprentices, but ultimately it means peace of mind for investors.
“Over $1.4 billion worth of investment has flowed through over 347 Project Trust Account projects since 2018 ensuring that thousands of Queensland tradies got paid on time and the buildings were top quality.
“Additionally, from 1 March, more robust Project Trust Accounts will be phased in—providing greater protections for tradies, and more oversight for the QBCC to better support the industry.”
Tradie Tour schedule of events:
- 2 March – Toowoomba
- 8 March – Gold Coast
- 9 March – Mackay
- 10 March – Rockhampton
- 16 March – Brisbane South, Loganholme
- 17 March – Cairns
- 18 March – Townsville
- 22 March – Sunshine Coast
- 23 March – Hervey Bay
- 29 March – Brisbane North, Virginia