The Federal Government has responded to the Murray Review with a focus on reducing payment timeframes and helping small businesses identify unfair contract terms.

Master Plumbers Australia and New Zealand (MPANZ) is open to the Federal Government boosting the Australian Securities and Investments Commission’s (ASIC) funding to enhance cracking down on illegal phoenixing. An increase in robust enforcement will help to protect subcontractors from unfair financial losses.

MPANZ is advocating to fully implement the Murray Review recommendations and has emphasised the need for stronger measures in protecting subcontractors from non-payment. MPANZ also welcomes the governments recognition of small businesses’ challenges where subcontractors and suppliers can be pressured into accepting unfavourable contract terms.

Small Businesses will have more confidence when negotiating agreements with stronger contracts in place. They won’t be as vulnerable to unjust practices that could threaten their sustainability.

“We strongly support the Federal Government’s commitment to protecting small businesses from unfair trading practices,” MPANZ spokesperson Nathaniel Smith says.

“Plumbers and other small contractors often face significant challenges when dealing with larger corporations, and these reforms will help level the playing field. We look forward to working with the Government to ensure these protections deliver real benefits to our industry.”