The housing industry is one of the sectors at the forefront of the Federal Government’s new economic stimulus package which aims to kickstart post-COVID recovery.
As forecasts predict an investment drop of 20 per cent in the residential housing industry, the latest government support is being worked on to prop up those sectors hardest hit by the pandemic.
Scott Morrison and treasurer Josh Frydenberg are working on the latest measures, with rumours of cash grants for new builds and renovations as one option to boost the construction industry.
“House building, residential construction, is going to be one of those gaps we need to address,” Mr Morrison said.
“We’ll have more to say about this once the details are finalised, but it is about creating jobs and supporting jobs in our residential construction sector.
“The tradies and all the others, the apprentices and others who work in that home-building sector, are a sector we know are going to feel a lot of pain unless we can keep a continuity in the business with house construction,” he said.
The entertainment and arts industry are amongst others to have struggled significantly during the crisis and will also be receiving government aid.
As most entertainment facilities were forced to shut up shop as part of lockdown laws, many industry workers found themselves exempt from government support.