Queensland’s subbies can now look forward to the being paid on time, every time and in full after the Palaszczuk Government has commenced Project Building Accounts (PBAs) in the Qld construction industry.
PBAs are accounts where all subbie payments are to be held by the project manager, and are the first phase of the Palaszczuk Government’s reforms to Queensland’s $45 billion building and construction industry, Chris Whiting MP said.
“This industry employs about 22,000 Queenslanders, and for many sub-contractors getting paid has been a major and on-going concern,” said Chris Whiting.
“PBAs will protect progress payments to allow more timely payments to subbies, to help relieve financial pressure for them and their families,” Mr Whiting said.
PBAs are now mandatary for Government-funded building and construction projects worth between $1 million and $10 million.
Following implementation on government projects, PBA’s will be implemented on private sector projects worth more than $1 million.
The Palaszczuk Government has adopted a phased approach to our roll-out of reforms to assist in bringing about cultural change in the industry.
“The government will be holding further consultation with interested stakeholders regarding PBAs, and on developing future phases of our reform agenda for the industry,” Chris Whiting said.
More information about the government’s reform agenda can be obtained online, Google Queensland Building Plan. Up to date news and information is also available through Facebook and Twitter using the handle @BuildingforQld.