Master Builders ACT Media Release – MBA ACT Welcomes Infrastructure Spending, But Encourages Reforms To Drive Jobs Growth

Master Builders ACT has today welcomed the 2020–21 ACT Budget, which focuses on the creation of
jobs and leading the Territory into recovery, following the economic impacts of the pandemic-
induced recession.

Master Builders ACT CEO, Michael Hopkins said, “The measures announced today, including $912
million to fund infrastructure and capital works projects in 2020-21 and $4.3 billion from 2020-21
to 2023-24 will continue to provide short-term support for the local building and construction
industry.”

“With every $1 spent generating $3 in economic return, it makes sense to invest in infrastructure
to lead the ACT’s economic recovery following the pandemic-induced recession that the Territory
currently faces,” he said.

Mr Hopkins said, “Focusing on the delivery of shovel-ready projects whilst also progressing design
and planning for major projects will boost the confidence of the local industry and provide the
necessary pipeline of future work to ensure local companies can continue to employ local people.”
“Over the longer-term, forecasts about slowing population growth paint a concerning picture for the
ACT economy,” he said.

Mr Hopkins said, “The budget shows population growth will drop to an expected record low rate of
¼ per cent in 2020-21 and 2021-22, having a direct and negative impact on industries including the
construction industry.”

“Once the short-term benefits of economic stimulus wear-off, economic reform will be needed to
drive growth in the local economy,” he said.

Mr Hopkins said, “The ACT is currently in a nationally competitive fight for scarce private sector
investment. Without reform in the areas of skills and training, planning, and continued taxation
reform, the ACT will lose this investment to other parts of Australia.”

“More than ever, the local industry needs business-friendly policies that will deliver on the
previously announced Economic Recovery Plan to support local job growth in the ACT,” he said.

Mr Hopkins concluded, “We encourage the ACT Government to continue to work closely with the local
industry to ensure policies are implemented which create jobs, drive economic growth and support
Canberrans into careers in the construction industry.”

Authorised by Michael Hopkins on behalf of Master Builders Association of the ACT.