Australia's construction industry faces collapse as material costs spike 50 percent amid fuel crisis

Australia's construction sector is experiencing severe disruption as material costs have surged up to 50 percent due to the global fuel crisis, with industry leaders warning that thousands of businesses face imminent collapse without immediate government intervention. The cost inflation is cascading through the supply chain, making it impossible for contractors to maintain profitability on existing projects and bids. This economic pressure is destabilizing a major pillar of Australia's economy and employment, with ripple effects likely to impact housing availability and infrastructure development. Political reporter Sara Tomevska reports that industry representatives are calling for urgent government action to prevent widespread business failures.