{"id":193829,"date":"2017-10-27T01:24:51","date_gmt":"2017-10-26T15:24:51","guid":{"rendered":"http:\/\/southburnett.com.au\/news2\/?p=193829"},"modified":"2020-07-16T16:44:11","modified_gmt":"2020-07-16T06:44:11","slug":"more-payment-certainty-for-subbies","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2017\/10\/27\/more-payment-certainty-for-subbies\/","title":{"rendered":"More Payment Certainty For Subbies"},"content":{"rendered":"
\"\"<\/a>
Housing and Public Works Minister Mick de Brenni
(Photo: Twitter)<\/figcaption><\/figure>\n

October 26, 2017<\/strong><\/p>\n

Building industry subcontractors will have more certainty about getting paid on time after the State Government passed a new law through parliament.<\/p>\n

Minister for Housing and Public Works Mick de Brenni said the Building Industry Fairness (Security of Payment) Bill 2017 would bring security and confidence to the Queensland\u2019s $45 billion construction industry.<\/p>\n

“For far too long, subcontractors have had to shoulder most of the financial risk on building projects, but that changes today,” Mr de Brenni said.<\/p>\n

“These reforms help ensure that subcontractors in the building and construction industry are paid in full and on time, every time.<\/p>\n

“With these reforms, Queensland will have the strongest protections for subcontractors anywhere in Australia.”<\/p>\n

Mr de Brenni said the comprehensive package of reforms were the result of extensive consultation, and would deliver a range of measures to secure payment for subcontractors.<\/strong><\/p>\n

“Project Bank Accounts (PBAs) are part of this package of reforms, and will prevent builders who want to use subcontractor payments as a line of credit from using funds from one project on another project,” Mr de Brenni said.<\/p>\n

“We listened to industry, and our new laws mean that we will have the ability to expand the use of PBAs down to sub-subcontractor level if needed.<\/p>\n

“We will use PBAs on all Government projects valued at between $1 million and $10 million from January 1, and will look to extend them to private sector projects over $1 million after January 1, 2019.”<\/p>\n

Mr de Brenni said Queensland\u2019s $45 billion building and construction industry employs almost 220,000 people and this is expected to grow to $52.3 billion and 230,000 people in 2018-2019 \u2013 a rise of $7.4 billion.<\/p>\n

“Queensland deserves a strong, viable and productive building and construction industry,” he said.<\/p>\n

“These measures are part of a comprehensive suite of reforms developed following extensive consultation over the past two years.<\/p>\n

“They are considered, they are comprehensive and they will protect the lives and livelihoods of Queenslanders.”<\/p>\n","protected":false},"excerpt":{"rendered":"

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