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Australia’s building lobby has hailed the Morrison Government’s $688 million HomeBuilder subsidy for new dwelling construction the “most effective stimulus in a decade”:
The Master Builders Association has reported that in the past four weeks, activity in the sector had returned to pre-COVID-19 levels, saying the package had delivered the “most effective stimulus in decades”.
The Housing Industry Association said on Monday that without government intervention, the contraction could have cost up to half a million jobs in the second half of 2020.
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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.