NSW big winner in $4.7b spend Phillip Coorey and Brian Robins December 13, 2008
NSW is the chief beneficiary of a $4.7 billion federal spending package announced yesterday to boost road, rail and education infrastructure, as well as give business more than $1.6 billion in tax breaks to encourage investment during the economic downturn.
The Prime Minister, Kevin Rudd, said the package - of which $2.5 billion was new money - was the curtain-raiser for what would be a "much more significant" package of infrastructure measures in the new year when the Government dips into its $12.6 billion Building Australia Fund. It would create 32,000 jobs and boost economic growth by between 0.25 percentage points and 0.5 percentage points.
