Tradies and Builders Winners From Federal Budget 2016

“Tradies and builders in the nation’s $200 billion building industry are winners from the Budget,” Wilhelm Harnisch, CEO of Master Builders Australia said. 

“This Budget should act to underpin a boost in building industry confidence, through targeted growth measures and a credible budget repair strategy to take Australia into the next decade,” he said. 

“It provides the economic settings that will enhance the capacity to strengthen the nation’s economic stability, future growth path and greater investment; fundamental requirements for a strong building industry,” Wilhelm Harnisch said. 

“The various Budget measures will allow the building industry to play a positive role in the transition to a stronger new economy,” he said. 

“The Government has delivered on Master Builders calls for fiscal and industry policy settings that are targeted and realistic. It will boost confidence and should bring forward economic activity, investment, growth and jobs in the building industry,” Wilhelm Harnisch said.  

“Measures to cut company tax rates for SMEs and the expanded tax write-off will be an immediate shot in the arm for builders, particular in the equipment intensive building industry,” he said. 

“Other measures including the Government’s plan to reduce company tax progressively to 25 per cent over the next decade, the continued rollout of the Government’s $50 billion infrastructure package, confirmation that there will be no change to negative gearing and the $840 million youth employment package will also boost confidence and jobs,” Wilhelm Harnisch said. 

“Overall the Budget has delivered for business by setting out a credible economic strategy that deserves a chance to succeed. Confidence and stability are the essential foundations for growth in new housing and new investment in the commercial construction sector,” he said.

“The building and construction industry needs confidence and certainty. Master Builders is calling for bi-partisan support for the key measures in this Budget,” Wilhelm Harnisch said.