NT government boosts Home Improvement Scheme to $100 million after receiving 20,000 applications
THE NT Government will boost its spending on the home renovation stimulus package to a whopping $100 million, with nearly one in three Territorian homeowners submitting an application
Business
Don't miss out on the headlines from Business. Followed categories will be added to My News.
THE NT Government will up its spending of the home renovation stimulus package to a whopping $100 million with nearly one in three Territorian homeowners submitting an application.
Chief Minister Michael Gunner doubled funding for the Home Improvement Scheme — introduced in light of the coronavirus crisis in the hopes of injecting a huge injection of cash into the Territory economy by supporting tradies — from $30 million to $60 million on Thursday citing unprecedented demand.
MORE:
Territorians’ fury over ‘sudden’ deadline to apply for tradie Home Improvement Scheme
Chief Minister announces $20 million JobKeeper gap-filling plan to help casuals, visa holders
An application cut-off for 5pm yesterday was also set, frustrating Territorians keen to take advantage of the scheme and sparking a mad dash for quick quotes to finalise paperwork.
On Thursday afternoon there were more than 10,000 applications.
By 5pm on Friday that number had surged to 19,499, a government spokesman confirmed.
By the time paper applications are sorted, the number is expected to exceed 20,000.
Mr Gunner, who on Thursday said no one with a valid application would miss out, confirmed the government expected to spend a total of $100 million to honour the scheme.
Conservative government estimates reveal Territorians will spend $40 million of their own cash as part of the scheme.
Tradies were run off their feet preparing last minute quotes, with reports from those within the industry that some were giving “worst case scenario” ball park prices in order to speed up the process, while others were reciting quotes on the phone.
Robbie Shepherd, from City Ceramic Tiles in Winnellie, said the scheme was fantastic but the short time frame had likely opened the door for some tradies “to take advantage of the scheme by increasing rates”.
Mr Shepherd said he experienced this first hand himself when he was seeking quotes for an application for his own home.
One quote he got for the garden shed project was $5500 while the other, using identical products, was $8800.
Amazing NT News subscription offer: Only $1 for first 28 days
“What I’ve been hearing from a lot of the people that are desperate to get their quotes in by close of business is that some of the quotes are just recited over the phone,” he said.
The deadline for applications had initially been set for the end of October 2020 or once funding ran out, whichever came first, with previous chapters of the scheme also running out of money before the end date.