The Federal Cabinet has agreed to offer a concessional loan to the ACT Government to help pay for the demolition of more than 1,000 homes affected by potentially deadly loose-fill asbestos. Whilst a final agreement with the ACT Government has yet to be finalised, it is understood that the offer will allow the ACT Government to buyback each affected home at full market value and to safely remediate and dispose of asbestos over the next five years. The loan would be repaid to the Federal Government through proceeds from land sales once the asbestos had been removed. 

NECA has actively lobbied the ACT Government to ensure a resolution for homeowners and electrical contractors that did not compromise personal safety. With the issue in the ACT such a wide-spread concern, we are glad to learn of this resolution that allows for the remediation of each affected site. Safety for electrical contractors and homeowners is a fundamental tenet of the electrical contracting industry and we believe this outcome will provide a greater degree of certainty in the ACT.

Please find the attached link to the ACT Government’s Asbestos Response Taskforce.