The federal government has recently announced plans to stimulate the economy by bringing forward $3.8 billion worth of infrastructure projects. Scott Morrison says the Gold Coast light rail and upgrades to Queensland’s M1, the Tonkin Highway in WA, Princess in NSW and Monash in VIC will provide important support to the economy through jobs.
“This is a sign of a government that’s investing in the infrastructure people need to get to work and to grow our economy,” the Prime Minister told Sunrise. “We’ve been working on this since the election.”
The investment will compromise of $1.27bn in fast-tracked funding along with $510m in new money over the next 18 months. The amount brought forward will total $2.72bn, with $1.06bn in new money over four years.
Mr. Morrison has been facing pressure to stimulate Australia’s flatlining economy, with record low-interest rates, stagnant wages, and rising unemployment.
“Put the tax cuts with these projects and our support for drought-affected communities – all of that combined is providing much-needed support to the economy while we face down these headwinds,” he said.
“We’re doing it without increasing taxes and while keeping budget in surplus which means we can pay down debt.”
The Prime Minister will detail which projects will be fast-tracked at the Business Council of Australia’s annual dinner tonight.
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Source: 7News – Sunrise
