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PM outlines the construction and entertainment sectors likely to get an economic boost

      PM to give grants for home renovations

Prime Minister Scott Morrison has outlined more of his plan to get the economy moving again post-COVID-19, with the construction and entertainment sectors likely to get an economic boost.

Under the recovery plan, new household construction and major renovation projects could get a grant from the government.

The plan could also see households given cash to spruce up their own home, with grants for renovations likely to help kickstart the construction sector.

During an interview with the media, Mr Morrison said it will support jobs, although he highlighted the dangers from a health and safety perspective as well as people trying to rort the system. 

“We are more interested in larger projects and new home builds because, as you get beyond September, we are looking at a bit of a drop-off.

“Another thing about these sort of projects is that you’re going to get more of your local tradies in,” Mr Morrison said. 

He also announced major funding projects, including an earlier start on Sydney’s second airport metro line.

“We will start it this year. We are both excited about that. A big part about coming out of the COVID-19 crisis is our infrastructure spending,” he said.

“Getting these big projects moving even more quickly is something that states, territories and the Commonwealth have been working together [on],” Mr Morrison noted.

Mr Morrison also said that the entertainment industry will likely receive a timely boost through targeted assistance.

“We are still working on those things. One of the challenges will be the entertainment sector will find it difficult to get capital moving again because they have had to draw down so significantly, so getting started will be hard.”

“We are looking at issues like that. We are looking at the film industry, and we want to ensure we are getting those sectors moving again,” Mr Morrison concluded.

Source  :  https://www.nestegg.com.au/invest-money/economy/pm-to-give-grants-for-home-renovations?

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