Will $6.2b be enough to fix the problem? And, who’s going to pay?

A CFMMEU commissioned report this week has put a price-tag of $6.2b on fixing the building industries ongoing flammable cladding and structural defects issues. This number is ‘conservative’ as it is only based on buildings constructed in the past decade and the true extent of the structural issues are only slowly coming to light. In Victoria over 1000 buildings have been identified with flammable cladding with the State Government committing $600m to assist with rectification works.

The report comes as the Victorian Building Authority (VBA) announced that it has issued a suspension and possible fines on a building surveyor accused of signing off on 5 multi-story developments with flammable cladding. The question now is whether this is the first of many…

Read more here at The Age.