The Palaszczuk Governmemt is protecting jobs of Queensland tradies and contractors by rolling out project bank accounts across the construction sector by 2022
Project bank accounts hold money in trust for subcontractors and the Palaszczuk Governmemt has trialled the PBA system for government building contracts valued at between $1 million and $10 million.
“Queensland Labor is making security of payment reforms so that Queensland tradies get paid in full, on time, every time,” said Chris Whiting
“Our Project Bank Accounts will ensure that no matter what happens, tradies get a fair day’s pay, for a fair day’s work.
“Now we will see the continued roll out of Project Bank Accounts in the public and private sectors, give authorities more power to investigate non-payment of tradies, and crack down on fraud.
“There will be a phased roll-out of PBA’s to Queensland building contracts valued at over $1 million.
“From 1 July 2020, PBAs will apply to government building contracts and Hospital and Health Service building contracts over $1 million, including hospitals, schools, police and ambulance stations across Queensland.
“From 1 July 2021, we will expand PBAs to the private sector starting with projects above $10 million
“ By 1 July 2022, PBAs will apply to Queensland building contracts valued at over $1 million.
“The PBA system is a remarkable reform that will help protect the jobs of tradies and contractors in Deception Bay, North Lakes and Burpengary East.
“It is a reform that is projected to boost our QLD economy of $12.6B over 20 years and create over 2,370 jobs, said Chris Whiting