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Comment: We have to end construction's boom and bust

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You don't have to look too hard to see how vital construction is to New Zealand or the serious challenges it faces. The sector employs 250,000 people and accounts for about 6 per cent of GDP. But it is also defined by a boom and bust cycle whose costs can be expected to rise, which challenges the strong economy and future infrastructure we want.

The sector is expected to reach $42 billion in investment over the next 12 years. We will need construction to deliver the sustainable buildings, transport links and modern utilities that will be at the heart of our future communities. But for that to happen, the way we see the sector, and how it is used, will also need to dramatically change.

The current way of doing things is disruptive for the industry and its customers. It has damaged quality and productivity. Low margins and contracts that transfer a high level of risk create knife-edge, unsustainable terms. Investment in research and development is low. We have a legacy of bad,........

© New Zealand Herald