The Victorian Government will bring forward $2.7 billion in spending commitments in a bid to protect jobs in the construction industry.
This stimulus follows the extraordinary announcement by Scott Morrison last week explaining, "almost 600,000 jobs have been lost, every one of them devastating for those Australians, for their families and communities," the Prime Minister said.
Treasury modelling optimistically expects unemployment to peak at 10 per cent. A good result for the Morrison Government, who is working hard to keep Australians in jobs.
Victorian Premier, Daniel Andrews has denied the Government is using COVID-19 stimulus to fund election promises.
Projects being fast-tracked:
$1.1 billion for new schools and upgrades to education facilities
$382 million for updating tourism destinations
$328 million to fix roads, repair train stations and upgrade regional rail
These projects will help maintain a healthy infrastructure pipeline for the sector and create 2,700 jobs.
Daniel Palumbo, Chief Operations Officer at the Reece Group, said: “It’s great to see Victoria and other states around the country supporting our customers through COVID-19. By bringing forward major projects they’re keeping the industry in work and the economy moving. Reach-out to your Branch Manager to learn more about how we can support you with these projects.”
News South Wales is looking to fast-track approvals for the Snowy 2.0 hydro storage project. It's the largest of the list of 24 plans being fast-tracked. Bringing forward $7.5 billion in infrastructure spending and create 9,500 new jobs.
Tasmania was one of the first to move, accelerating maintenance works on public buildings and infrastructure. The West Australian Government has also moved to support construction by streamlining approvals for transport construction projects under $20 million.
Other states and territories are doing their bit too, with further announcements expected in coming weeks.
For more information on support available in other states and territories, click the relevant link below:
