Taxpayers may be slugged millions to fix high-rise faults

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By Leith van Onselen

Last month, the senior bureaucrat who reviewed building regulation for the NSW Government warned that defects in the 34-storey Opal Tower at Sydney’s Olympic Park “are likely just the tip of the iceberg”.

Now, Fairfax reports that NSW taxpayers could be held liable for the costs of rectifying faults at the Opal Tower, instead of property developer Ecove or its builder Icon Construction. From The SMH:

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.