New cracks found at Sydney’s Mascot Towers

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In June last year, Sydney’s 132-apartment Mascot Tower was evacuated after large cracks were discovered.

Fresh cracks have now appeared, which has raised concerns that bricks could fall out of the facade. And this has prompted authorities to close shops and set up an exclusion zone around the building:

A confidential memo, obtained by the ABC, was sent by the engineers to the building’s owners last night, explaining what was found.

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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.