For Australia’s building and construction industry, the worse-than-expected budget deficit outlined by the Treasurer in the Mid-Year Economic and Financial Outlook (MYEFO) earlier this week highlights the urgency for the Government to embark on a program of major reforms to lift productivity and grow the economy.

Master Builders will be looking to the quality of the Government’s response and welcomes the Treasurer’s commitment not to increase taxes, which would have acted as a ‘damp squib’ on the economy. To accentuate the positive, getting the structural budget deficit under control presents the Government with the opportunity to…