The McGowan Government today released John Fiocco’s final report on Security of Payment Reform in the WA Building and Construction Industry.
Developed over a six-month period, the report involved extensive stakeholder consultation with 19 industry organisations and seven State Government agencies.
The report includes 44 recommendations, which identify reforms to better protect security of payments for Western Australian subcontractors in the building and construction industry.
All of the recommendations will be considered and the McGowan Government will examine how they can be implemented next year.
This report follows the McGowan Government’s recent announcement to expand Project Bank Accounts for Government projects, starting in July 2019, and to establish a Subcontractor Support Unit, led by the Small Business Commissioner.
For the full report, visit https://www.commerce.wa.gov.au
As noted by Commerce and Industrial Relations Minister Bill Johnston:
“I’d like to thank John Fiocco for completing one of Australia’s most comprehensive reviews of the subcontracting sector.
“I’d also like to thank East Metropolitan Region MLC Matthew Swinbourn for assisting Mr Fiocco on this report and all industry associations involved in the process.
“The McGowan Government is committed to providing a fairer system and more certainty for subcontractors and their families.
“I look forward to carefully considering each recommendation in the report and expect the first legislative reforms to be introduced in the first half of 2019.”
