VIC Government chases ‘dodgy’ builders for flammable cladding costs

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In July, the Victorian Government launched a $600 million funding package to remove dangerous flammable cladding, the cost of which is to be split 50/50 by taxpayers and a new developer building levy.

Now, the Victorian Government has announced new laws to chase ‘dodgy’ builders for the costs of rectification. From The AFR:

On Tuesday Planning Minister Richard Wynne said the Building Amendment (Cladding Rectification) Bill 2019, allowing the government to raise building permit costs as well as create the “step-in” power to claw back costs on behalf of owners corporations, would be effective by year-end.

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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.