Tuesday 5 May
JOINT MEDIA RELEASE WITH MASTER BUILDERS ACT & PROPERTY COUNCIL OF AUSTRALIA
Economic recovery can be led by infrastructure investment says Canberra Business
Without substantial public investment the ACT economy will suffer a longer and deeper downturn than necessary.
This is the message to the ACT Government following a meeting of Canberra Business Chamber’s industry and community group members who have co-signed a letter to Chief Minster Andrew Barr.
The groups have asked the ACT Government to urgently commence planning, design and construction of an upgraded National Convention Centre, Canberra Sports Stadium and the EPIC redevelopment to support the Territory’s construction tourism and events industries.
“Without substantial public investment the ACT economy will suffer a longer and deeper downturn than necessary” said Canberra Business Chamber CEO Graham Catt. “The Prime Minister, Reserve Bank of Australia Governor, and Federal Treasury Secretary have all called for Governments to consider ‘radical and substantial public support’ to help the private sector recover from the economic downturn resulting from the COVID-19 crisis.”
Master Builders Association of the ACT CEO Michael Hopkins said that “Major projects like these have already been endorsed by the ACT Government in the Infrastructure Plan released last year. Bringing them forward can give an immediate jobs boost for local engineers, architects, builders and subcontractors, and help support the recovery of our tourism and events sector which has been decimated by the COVID-19 shutdowns.”
“Almost two thirds of ACT jobs are in the private sector, and our economic recovery must be private sector led.” said Property Council of Australia (ACT) Executive Director Adina Cirson. “The ACT Government has introduced initiatives that provide financial support for ACT small businesses, but those measures, while appreciated, will provide short-term support at best.”
“There has never been a better opportunity for the ACT to invest in long term, revenue generating infrastructure.” said Mr. Catt “It not only provides construction related employment, but can give the ACT economy the boost we need and depending on the projects funded, can provide health, environmental, community and social benefits for generations to come.”