The recent announcement by the RBA was necessary, in the author’s view, in the absence of a long term plan from government to provide details of the road to recovery over the coming decade.
The current “splash with cash” in building and construction projects across residential, commercial and infrastructure is being hampered by many factors;
- No “Australian” strategy, just bits and pieces from all jurisdictions.
- Timely release of funding.
- The emerging labour shortage (skilled and unskilled) in the building and construction industry.
- Ineffective government regulations and consistency of thought across all jurisdictions.
- Ineffective policy and action around social housing.
- Ineffective policy and regulations around energy efficient building.
- No policy around Australian content within the building and construction industry. This has a negative impact on employment, household incomes and contribution to GDP.
- Limited funding for local manufacturing of building and construction products and materials to become world competitive.
- No investment in technology to support the building and construction industry from approval to occupancy.
In the author’s view, industry bodies need to collaborate on behalf of their members and address these and probably many others, with fact driven discussion at all levels of government. AIB will be at the forefront of these discussions.
The AIB has some exciting initiatives in the pipeline for members and will also continue to raise the difficult issues with government. In summary, to push for sustainable social and economic reform and investment in building and construction to ensure a planned recovery from the recession.
I trust this message finds you well.