The Australian construction industry accounts for a disproportionately high number of corporate insolvency events. The most recent ASIC statistics show that 22.8% of all companies entering into some form of external administration in the 2013-14 financial year came from the construction industry. This was the second highest of all the industry categories, behind the ‘Other (business and personal) services’ category.
Joint Submission by the Construction, Forestry, Mining and Energy Union (CFMEU), the Australian Manufacturing Workers Union (AMWU) and The Australian Workers’ Union (AWU).
