Multiplex, Built, Adco Constructions and Hansen Yuncken are pushing back against planned payment protections for subcontractors, setting up a clash with the Albanese government, which promised to implement them last year in exchange for getting its industrial relations laws over the line.
The large builders warned against “unintended consequences” of implementing security of payments reforms – by requiring builders to keep money for subcontractors in trust, like real estate agents and lawyers – as recommended by a key 2017 review into the issue.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
