Confidence is set to climb for building and construction businesses following the federal government’s announcement that it would amend its procurement and contracting arrangements.

Master Builders Australia has issued a statement commending the federal government’s recent measures that aim to give relief on contract terms and speed up payments to help support businesses through the economic shock of COVID-19.

“The measures to give relief on contract terms and speed up payments announced by the Minister for Finance [on Monday, 11 May] is an extremely positive initiative that will bolster confidence among building and construction businesses working on federally funded construction projects,” Denita Wawn, CEO of Master Builders Australia, said.

“It’s very pleasing to see the government making an effort to be a ‘model procurer’ and setting a good example in providing relief to businesses whose provision of goods and services is affected by COVID-19,” she said.

“Master Builders has been calling for this measure since the onset of the economic emergency brought on by the coronavirus, and it’s really good to see the government has been listening.

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SOURCE – SMARTPROPERTYINVESTMENT.COM.AU – EMMA RYAN