The Albanese government’s target of building 1.2 million homes over five years, or 240,000 homes annually, necessitates having a capable construction industry.
The latest insolvency data from the Australian Securities and Investments Commission (ASIC) does not inspire hope, with a record number of construction firms collapsing.
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As illustrated in the following graphic from The Australian, nearly 7,000 construction firms have entered insolvency since Labor came to power in mid-2022.
