Industry responds to Project Bank Accounts proposal

Industry responds to Project Bank Accounts proposalThe Property Council has joined forces with Master Builders Queensland, the Civil Contractors Federation and the Qld Major Contractors Association to call on the State Government to go back to the drawing board to find a meaningful solution to resolve payment issues in the building contractual chain.A public campaign was launched on Tuesday 11 April, outlining the flaws with the Government’s Project Bank Account proposal – contained within the Qld Building Plan discussion paper.The campaign partners share concerns that the proposal will not resolve payment issues, and will only serve to increase construction costs.Instead, the Property Council is asking the Government to work with industry to sharpen existing legislative mechanisms aimed at addressing payment issues.The Property Council’s media releaseThe Property Council’s submission to the Qld Building Plan discussion paperFurther information on the public campaign