14 May 2021
2021 Budget Boost For Construction
The much anticipated 2021 Budget has seen a great deal of further investment in the Australian construction, infrastructure and jobs market. Outlined below are the key takeaways from the recent announcement.
- Construction companies will benefit from another boost to infrastructure spending. The government has earmarked an additional $15 billion for a range of infrastructure projects, including a new freight hub in Melbourne and upgrades to key highways around the country.
- The boost to the government’s $110bn, 10-year pipeline is expected to support an additional 30,000 jobs, on top of the 100,000 employees already working on road and rail projects.
- $688 million HomeBuilder scheme, which gives cash grants for people to renovate or build new homes.
- Bringing forward $7.5 billion of spending on road and rail projects, a new $2 billion investment in road safety upgrades and $1 billion for local councils to upgrade roads, footpaths and street lighting.
- The Government's newly unveiled JobMaker Hiring Credit will give $200 a week to employers who hire anyone aged 16-30, and $100 a week for any worker aged 30-35.