According to Master Builders Australia, the building and construction industry continues to hold grave concerns around the compounding impact of the Albanese Government’s Closing Loopholes IR Bill on business and tradies right across the economy.

Master Builders Australia CEO Denita Wawn says moves by Minister Burke to tinker at the edges of the Bill does not in any way change the fundamental structural problems of this Bill – it is complex, costly and unnecessary.

“You can’t amend a few clauses and say concerns with the Bill are fixed when there are 300 odd pages of damaging changes that fundamentally upend how business operates.

“Minister Burke is attempting to create his own minor loopholes for a couple of specific industries while still leaving the economy high and dry.

“The cumulative impact of this Bill on the economy will be devastating and will leave the building and construction industry hamstrung in its ability to meet the housing targets set by the Federal Government.

“The economy does not operate in silos, and failing to understand how supply chains work is why peak business groups remain committed to opposing this Bill.

“Independent contractors, self-employed Australians, subcontractors, and small business are still in the firing line and their rights to be their own boss are at risk.

“This Bill ultimately drives down productivity and drives up the cost of goods and services.

“When you have the RBA and businesses calling for a boost in productivity and communities crying out for cost of living relief, why is Labor hell-bent on ignoring these pleas?” Ms Wawn said.