Stimulus package to displace gathering gloom

The Property Council of Australia has become one of the first construction industry groups to welcome the approval of the $42 billion package. The council, which is a member-based advocacy body for the property sector, said the package would include a $29 billion boost to the construction industry. “Now the task is to get the dollars into the community and to generate construction activity and jobs across our economy,” said Property Council chief executive Peter Verwer. “We urge governments Australia-wide to work with industry to fast-track bidding and approvals processes so we can get on with the job of delivering the goods,” he said. Speaking ahead of the package being approved late last week, Caryn Kakas, executive director of the Residential Development Council, said the $6.4 billion committed to public and community housing would shore up the construction industry in this fragile economy. She said the $42 billion stimulus package would maintain employment in the sector and ensure apprentices are retained and skills are not lost. “It is clear the government recognises that this is the time to tap into the industry to achieve housing objectives for all Australians,” Kakas said.

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