4 years ago
CONSTRUCTION SLOWED BEFORE THE VIRUS
JIM CHALMERS MP
New data shows construction activity has fallen further in the March quarter, even before the worst of the virus outbreak and before the large-scale lockdowns began.
Without urgent action, this sector risks falling off a cliff in coming months as the Morrison Government’s support is withdrawn.
Today’s Australian Bureau of Statistics figures add to the overwhelming evidence that Australia entered this crisis from a position of weakness, not strength with total construction now down by 7 per cent since the last federal election.
The ABS has confirmed that the value of:
Without urgent action, this sector risks falling off a cliff in coming months as the Morrison Government’s support is withdrawn.
Today’s Australian Bureau of Statistics figures add to the overwhelming evidence that Australia entered this crisis from a position of weakness, not strength with total construction now down by 7 per cent since the last federal election.
The ABS has confirmed that the value of:
- Residential construction work done fell for the seventh consecutive quarter, and is down 12.5 per cent over the year;
- Construction work done is down 6.5 per cent over the year; and
- Total building work done is down 8.0 per cent over the year.
Labor called on the Morrison Government five weeks ago to develop a National Housing Stimulus Plan.
The less done to protect jobs and support the hundreds of small and family-run businesses now, the harder and longer the recovery will be.
If only the Prime Minister spent as much time coming up with a real plan for jobs as he did working on his latest meaningless slogan.
Australian workers, businesses and the community need the Morrison Government to do a much better job managing the recovery than they did of managing the economy before the virus outbreak.