Qld plans payment system for 'subbies'

Queensland subcontractors would be paid in full and on-time instead of being used as "pseudo overdraft facilities" under a new state payment scheme.

The state government is planning to legislate a new secure payment system which could result in an extra $6.42 billion of economic activity over the next 20 years and thousands of jobs, according to a Deloitte analysis.

Housing Minister Mick de Brenni said the system was being finalised after he had heard from countless 'subbies' that non-payment or delayed payment was killing small business confidence and tearing apart families.