The Civil Contractors Federation is calling on the government to establish a publicly owned people’s bank as a way to stimulate and restore confidence in the economy. A risk averse and conservative banking sector with tight lending requirements is not facilitating the investment necessary to generate work for the civil contracting sector.
The Chief Executive of the SA Branch of the Civil Contractors Federation (CCF SA) Mr Phil Sutherland said that the civil sector historically has played an important role in a host of civil infrastructure projects including land subdivision works for private housing and commercial developments, and road, bridge and rail construction.
There are a handful of major publicly funded projects underway, and nothing planned beyond these. There is almost zero private sector investment at the moment. The difficulty in accessing finance is a major factor in thisPhillip Sutherland, Chief Executive Officer