Budget To Turn Around On Strong Economy Plus A Focus On Skills For The Future 1

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11th May 2010, 11:51pm - Views: 1036

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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


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

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