Building Industry

The Hon. F. PANGALLO (15:13): Supplementary question: considering that the construction industry is one of the biggest drivers of jobs and the economy in South Australia, isn't the Treasurer concerned that a number of building companies are folding or finding themselves in trouble?

The Hon. R.I. LUCAS (Treasurer) (15:14): Obviously, I am concerned at any business that might find themselves in financial difficulty, in particular in relation to building companies. There is obviously the concern for the workers who might work within that industry. There is obviously concern for subcontractors who might have undertaken work and might not get paid, and there is obviously concern in relation to home builders who might be impacted in some way by that particular arrangement.

That's why we have a building indemnity insurance scheme, which is managed out of SAicorp within Treasury and which seeks to look after home builders who might find themselves impacted by a house builder who goes broke. The answer to the honourable member's question is yes, I do share the member's concern and the Master Builders Association's concern in relation to any business or home builder that goes broke.