Hon Peter Collier asks about the release of the Fiocco report on subcontractor payment security, potential legislative changes for the Small Business Commissioner, and the rollout of project bank accounts to the private sector. The Minister's response indicates consideration of the report's recommendations and potential legislative action.

AnsweredQoN 1324Legislative Council
Asked
6 December 2018
Portfolio
Commerce and Industrial Relations

QuestionView source ↗

SUBCONTRACTORS —
PAYMENT SECURITY
1324. Hon PETER COLLIER to the minister representing the
Minister for Commerce and Industrial Relations:
I refer to the announcement
yesterday regarding security of payment for subcontractors.
(1) Why has the Fiocco report not
been publicly released and when will it be released?
(2) Will
legislative changes be required to provide the additional powers to the Small
Business Commissioner; and, if so, what legislative changes will be required?
(3) Will project
bank accounts be rolled out to the private sector in accordance with the
McGowan government's election commitment; and, if not, why not?

AnswerView source ↗

I thank the member for the question.
The Minister for Commerce and Industrial Relations has provided the following
information.
(1) The McGowan
government has received the report by Mr John Fiocco and Hon Matthew Swinbourn,
MLC, and is considering its recommendations. The minister will be releasing the
report shortly.
(2) Yes. Some
legislative changes will be required to provide additional powers to the Small
Business Commissioner to compel the production of documents.
(3) The merits of
project bank accounts for private industry were considered and some recommendations
were made in the report. The McGowan government is considering the
recommendations and will make an announcement in due course.

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