Treasurer Jim Chalmers to host investor roundtable tackling housing, green energy
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The news: Treasurer Jim Chalmers and Industry and Science Minister Ed Husic will host the fourth investor roundtable in Parliament on Friday focused on housing and clean energy. In particular, the government wants to focus on the potential for private capital in prefabricated housing and increased use of modern construction methods.
The roundtable will consult on the government's new "single front door" point of contact for major project delivery and its functions and prioritisation criteria.
The numbers: Productivity Commission modelling indicates that more modern construction methods, like prefab, can cut costs by up to 20% and be twice as fast.
This could help lead to a 2% rise in residential and non-residential construction, delivering a GDP boost worth $5.7 billion per annum in 2023-24 dollars in the long-run. Consumer prices are estimated to be reduced by up to 0.11%.
The context: Attendees include executives from ANZ, Australian Investment Council, Australian Retirement Trust, Aware Super, BlackRock, ACT Treasury, CBUS, Commonwealth Bank, Future Fund, HESTA, IFM, Macquarie Bank, NAB, Rest Super, UniSuper, and Westpac.
A range of government and association stakeholders will be in attendance as well.
What they said: "We’re bringing some of the most influential investors in the country to the table to help get capital flowing where it’s most needed," Chalmers said.
“This will mean more investment in areas like housing and energy in ways that also deliver strong returns.
“Investing in our national priorities presents big opportunities for investors and big opportunities for Australians.”
The source: Treasurer media release
