Victoria, NSW ready to bail out construction companies

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Late last month, it was reported that the New South Wales government was preparing a bailout for Metricon “too-big-to-fail” and the industry:

The New South Wales government, at its highest levels, is working to finalize a dual bailout for the state’s building industry and customers of construction giant Metricon, fearing the business is in danger of collapsing…

One option under consideration is a bailout costing hundreds of millions of dollars that would support industry players threatened with collapse due to a confluence of factors including the pandemic, rising material costs , recent floods and labor shortages…

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