Monday, 1 June 2020 4:43 pm
Government considering cash grant scheme to help tradies
(Source: 7NEWS Sydney)
The federal government is set to announce a cash grant scheme for home renovations to help the construction industry recover following the coronavirus pandemic.
The multi-billion-dollar stimulus package, the fourth to be announced by the government, is set to support up to 400,000 tradies at risk of losing their jobs, The Australian reports.
The housing sector has been slowed due to the impact of coronavirus.
Under the scheme, the First Home Buyers grant could be extended to existing home owners.
“As time goes on there are sectors who will endure more of the pain for longer,” Prime Minister Scott Morrison told reporters on Monday.
“There will be gaps that occur in our economy, and house building, residential construction will be one of those gaps that we have to address.
Anyone looking to buy a newly built property could be eligible for a grant of up to $20,000 or more, a move that’s set to see an increase in the construction of new homes.
It’s also likely there will be grants available to people wanting to renovate their homes – but conditions are expected to be placed on the type of renovations eligible for the cash grant.
“We’ll have more to say about this once the details are finalised but it is about creating jobs and supporting jobs in the sector,” Morrison said.
The government is also set to hand over $1.75 billion to the NSW government to help fast track the construction start date for the Western Sydney Airport metro service, which could create up to 14,000 jobs.
The building industry has been lobbying for the scheme, claiming it would see a surge in new home built and pump billions of dollars into the economy, as well as boost jobs in construction.
The package is expected to be officially announced this week.