Pauline Hanson's One Nation, 1998 Queensland State Election
Currently in the building industry sub contractors and suppliers carry nearly all of the risk in the event of business failure on the part of a builder. For the past 25 years, governments have failed to fix the problem. They have toughened up licencing in an attempt to ensure participants have adequate technical skills, financial capacity and business acumen, however this has failed to protect sub-contractors and suppliers when business failure occurs.
Pauline Hanson's One Nation will introduce security of payment measures for all sub-contractors and suppliers in the building industry.
This will take the form of a compulsory insurance policy or bond purchased by the builder before each job. This will provide coverage in the range of 70 to 80 percent of all debts over $1000 owed to any sub-contractors or suppliers and will have considerable effect in the prevention of undue financial hardship if a builder goes broke.
This cover will be provided by private enterprise and is similar to that currently in use in the building industry on a voluntary basis. The cost for an existing security of payment bond for a $100,000 house ranges from $185 to $350 depending on the financial credentials of the builder.
Pauline Hanson's One Nation will also investigate other recommendations in the Scurr report in order to further improve the integrity of the Building Industry for all concerned.