THE Federal Government has scrapped its blotched $2.45 billion insulation scheme, designed to save jobs – but instead, now looking to cost them.

Environment Minister Peter Garrett announced the scheme’s termination on Friday February 19, describing the risks as “unacceptably high” – and releasing research from as far back as early 2008, warning the hugely expensive program could result in fraud, and house fires.

The Greens Loans program, and solar hot water scheme were also scrapped on Friday.
It’s reported up to 160,000 homes have been fitted with sub-standard ceiling batts “with minimal benefit to the environment”, while around 80,000 households face safety risks.

New figures show that the Rudd Government's Nation Building Economic Stimulus Plan is continuing to support jobs in the housing sector with more than 78,000 Australians taking up the First Home Owners Boost by the end of April.

April saw the highest take-up so far of the First Home Owners Boost - 18,736.

ABS Building Approvals figures out today show the seasonally adjusted total dwelling units approved rose by 5.1 per cent in April to a level of 11,402. This is the third consecutive monthly rise.

Residential building approvals in NSW increased for the third consecutive month in April 2009 to reach their highest level since July last year, said the Housing Industry Association, Australia’s largest building industry organisation.

NSW Executive Director, Graham Wolfe said the 37% increase in residential building approvals across NSW in April was largely due to increasing activity in new houses.

“A sustained recovery in detached house building approvals was consistent with a range of leading indicators which pointed to moderate growth in new home starts from mid 2009,” said Mr Wolfe.