Media Release
11 May 2010
Budget to Turn Around on Strong Economy
plus a Focus on Skills for the Future
Statement by Mr Wilhelm Harnisch, Chief Executive Officer
Master Builders Australia, the peak association for the building and construction industry, welcomes
the Government’s Budget strategy which demonstrates responsible fiscal management including
an
early return to surplus, a boost for skills training, additional skilled migration places and enhancements
to the home saver account scheme.
In line with Master Builders’ recommendations in its Pre-Budget Submission, the Budget is predicated
on strong fiscal discipline with a plan to return the Budget to surplus within three years and decrease
public debt which should take pressure off interest rates and assist a private sector economic recovery.
Master Builders believes the Budget framework should deliver a stable business environment and is an
appropriate post-stimulus global financial crisis exit strategy.
The Budget forecasts show sectors of the building and construction industry still face stumbling blocks
and the likelihood of difficult conditions ahead which supports the Government’s continued economic
stimulus spending.
A strong recovery in residential building is predicted over the next two years as well as a very strong
phase of engineering construction on the back of the commencement of a number of major resource
projects. After a big decline this year, the Budget forecasts a further fall in private non-residential
building in 2010-11 with little work in the pipeline outside stimulus related areas.
Master Builders strongly supports the boost for skills training and Government moves to sharpen the
focus of the skilled migration program.
The Government has committed $660 million for a new Skills for Sustainable Growth strategy
including a
Critical Skills Investment Fund designed to encourage industry partnerships with
Government to meet skills demands.
Master Builders also welcomes the major overhaul of the
apprenticeship system.
Master Builders welcomes the Government’s decision to make the concessionally taxed First Home
Saver Accounts more flexible. This should assist aspiring first home buyers by making it easier to
adjust housing decisions to changing conditions.
Wilhelm Harnisch
Chief Executive Officer
Bh 02 6202 8888
Mbl 0402 039 039
Peter Jones
Chief Economist
Bh 02 6202 8888
Mbl 0403 440 838
NEWS 
