The New South Wales Government is calling for public submissions for its inquiry into insolvency in the construction industry.

 

State Minister for Finance and Services, Greg Pearce, said the inquiry, which was established earlier this month, will examine submissions before making a final report for the Government.

 

“The failure of a business in the construction industry creates a ripple effect that can destroy the financial stability of its sub-contractors and suppliers,” Mr Pearce said.

 

 “The effects on confidence in the construction industry are also of enormous concern, especially at a time when the NSW Government is embarking on a significant infrastructure investment program.

 

“We are seeking submissions from construction companies, sub-contractors and experts in the industry,” Mr Pearce said.

 

Hundreds of construction companies failed between 2009 and 2011 with debts in the billions of dollars, affecting up to 24,000 sub-contractors.

 

Mr Pearce said the inquiry’s terms of reference include looking at how initiatives such as insurance schemes, trust arrangements or mutual funds could help secure subcontractor entitlements.

 

Submissions can be lodged on the NSW Government’s “Have Your Say” website, which is www.nsw.gov.au/haveyoursay or by emailing This email address is being protected from spambots. You need JavaScript enabled to view it.

 

Written submissions should be sent to the Chairman of the Inquiry into Construction Industry Insolvency, MR Bruce Collins QC, GPO Box 15, Sydney NSW 2001.