$3.8 billion infrastructure splash is Government's response to 'uncertain' economic conditions
5 years, 4 months ago

$3.8 billion infrastructure splash is Government's response to 'uncertain' economic conditions

ABC  

Prime Minister Scott Morrison is seeking to boost a flagging economy by accelerating infrastructure expenditure. Key points: The Government plans to bring forward $3.8 billion in infrastructure investment It's in response to Australia's struggling economy The move follows calls for more aggressive economic stimulus In a speech at a Business Council event on Wednesday night, he will describe how the Government will respond to "uncertain" economic times. "This will support the economy in two ways — by accelerating construction activity and supporting jobs in the near term and by reaping longer run productivity gains sooner," he is expected to say, according to a draft of his speech provided to the ABC. "Taken together, the Government's actions since the election — legislating the tax cuts, the bring-forward of infrastructure investment and additional drought relief — has provided significant near-term support of $9.5 billion to the economy at a challenging time." "Every time the interest rates decrease it sends a message the Reserve Bank thinks there's trouble on the horizon."

Government Economy Infrastructure Economic  splash  forward  speech  expected  reserve  support  governments  run  infrastructure  economic  38  economy  response  billion  conditions  uncertain

History of this topic

Peter Dutton’s $5 billion plan for 500,000 new homes focussed on speeding up infrastructure delays, cutting red tape
5 months, 1 week ago

Peter Dutton’s $5 billion plan for 500,000 new homes focussed on speeding up infrastructure delays, cutting red tape

ABC  

Opposition Leader Peter Dutton has delivered a major new housing policy, promising to spend $5 billion speeding up funding for critical housing infrastructure — like sewerage, water and power. Announcing the Coalition's new housing policy at a greenfield housing site outside of Perth on Saturday, Opposition Leader Peter Dutton has maintained the Coalition isn't considering negative gearing either. Use it …

Biden celebrates ‘Infrastructure Week’ — and hopes voters are listening
10 months, 2 weeks ago

Biden celebrates ‘Infrastructure Week’ — and hopes voters are listening

Politico  

We're tracking Biden’s $1.6 trillion climate and infrastructure spending plans. Scott Monroe, senior director at Fitch’s Global Infrastructure group, said the $550 billion investment in new funding from the 2021 infrastructure law is “a large sum of money,” but not “in relation to the overall infrastructure needs of this country.” “And so it’s certainly beneficial to have this type of …

India budget leans on infrastructure to spur economic growth
3 years, 1 month ago

India budget leans on infrastructure to spur economic growth

Associated Press  

NEW DELHI — Indian Prime Minister Narendra Modi’s government included hefty spending on roads, airports and other infrastructure in an annual budget presented to Parliament on Tuesday, looking to spur growth and improve its popularity just ahead of key state elections. The budget for the coming fiscal year, which starts on April 1, calls for $533 billion in spending, up …

Here’s how long it may take Biden’s infrastructure package to jolt the economy
3 years, 4 months ago

Here’s how long it may take Biden’s infrastructure package to jolt the economy

CNN  

Washington CNN — It may be years before Americans are driving over new bridges or plugging their electric vehicles into a new highway charger funded by President Joe Biden’s infrastructure package. This year’s formula funding will go out within the next six months, and the application process will open for some of the grant programs during the same period, Transportation …

Biden says final passage of $1 trillion infrastructure plan is a big step forward
3 years, 4 months ago

Biden says final passage of $1 trillion infrastructure plan is a big step forward

NPR  

Biden says final passage of $1 trillion infrastructure plan is a big step forward Enlarge this image toggle caption Samuel Corum/Getty Images Samuel Corum/Getty Images After months of tense negotiations, the House of Representatives has passed a $1 trillion bipartisan infrastructure bill, 228-206, fulfilling a major priority for President Biden's domestic agenda and cementing a political victory for Democrats. Biden …

Senators behind $1T infrastructure plan show off their work
3 years, 7 months ago

Senators behind $1T infrastructure plan show off their work

Associated Press  

WASHINGTON — The senators who spent months stitching together a nearly $1 trillion infrastructure package are now trying to sell it to the American people before a key vote expected this week that would push a long recognized national priority much closer to the finish line, after years of talk. The pressure from the left underpins House Speaker Nancy Pelosi’s …

Infrastructure package: Here’s what’s in it
3 years, 8 months ago

Infrastructure package: Here’s what’s in it

CNN  

Editor’s Note: This story originally ran July 28. The deal also contains $16 billion for major projects that would be too large or complex for traditional funding programs, according to the White House. RELATED: Here’s how Biden’s infrastructure plan would impact key areas of American life Some 20%, or 173,000 miles, of the nation’s highways and major roads are in …

Democrats Are Throwing Their Whole Agenda Into This $3.5 Trillion Budget Proposal
3 years, 8 months ago

Democrats Are Throwing Their Whole Agenda Into This $3.5 Trillion Budget Proposal

Huff Post  

LOADING ERROR LOADING Democrats are readying a massive $3.5 trillion infrastructure package stuffed full of money for housing, nutrition, climate, health care, immigration, child care, and more. It’s unclear, however, whether moderate Democrats in either chamber will go along with the kinds of tax increases their leaders say are needed in order to finance a $3.5 trillion bill, especially with …

10 Senators Say They Agree On Infrastructure 'Framework' — But There Are Few Details
3 years, 9 months ago

10 Senators Say They Agree On Infrastructure 'Framework' — But There Are Few Details

NPR  

10 Senators Say They Agree On Infrastructure 'Framework' — But There Are Few Details Enlarge this image toggle caption Samuel Corum/Getty Images Samuel Corum/Getty Images A bipartisan group of 10 U.S. senators says they agree on a "framework" for a deal on an infrastructure package, but the members did not release any details and top leaders from both parties have …

Infrastructure: Biden made stimulus look easy. Selling tax hikes for infrastructure will be harder
4 years ago

Infrastructure: Biden made stimulus look easy. Selling tax hikes for infrastructure will be harder

CNN  

CNN — President Joe Biden’s second big legislative push will be harder than his first for multiple reasons, most conspicuously this one: It will include tax increases. But tax hikes that start out popular don’t often end up that way, as Republican strategists are eager to prove again once debate over Biden’s “Build Back Better” infrastructure plan begins in earnest. …

US mulls $4 trillion jobs, infrastructure spending plan: Report
4 years ago

US mulls $4 trillion jobs, infrastructure spending plan: Report

Al Jazeera  

Raising taxes on companies and the wealthy will be central to funding the package, sources tell Reuters. United States President Joe Biden will be briefed by advisers this week on infrastructure, climate and jobs proposals being considered by the White House that could collectively cost as much as $4 trillion, the Reuters news agency reported, citing people familiar with the …

Next round of stimulus should focus on infrastructure: NITI Aayog VC
4 years, 5 months ago

Next round of stimulus should focus on infrastructure: NITI Aayog VC

Live Mint  

eThe next round of economic stimulus measures could focus on infrastructure projects which can be executed quickly and can make economic recovery sustainable, federal policy think tank NITI Aayog vice chairman Rajiv Kumar said. Kumar said at a webinar organised by the Public Affairs Forum of India, an advocacy platform, that the signs of economic recovery in August and September …

Infrastructure spending must be core to Federal Budget's recession recovery plan: economists
4 years, 5 months ago

Infrastructure spending must be core to Federal Budget's recession recovery plan: economists

ABC  

Deep beneath Sydney's streets and famed harbour, work on Australia's biggest public transport project is slowly reaching its final destination. Key points: RBA documents obtained under FOI reveal industry scepticism about the amount of new Government spending on infrastructure The bank says the amount of new spending is "small relative to the existing pipeline of work" Economists are generally united …

Is infrastructure an economic saviour or a white elephant? What COVID-19 can teach us about delivering big projects
4 years, 7 months ago

Is infrastructure an economic saviour or a white elephant? What COVID-19 can teach us about delivering big projects

ABC  

Governments are banking on infrastructure projects to help the Australian economy recover from the coronavirus recession. "Metronet is the biggest rail infrastructure program ever undertaken in Western Australia," WA Minister for Transport Rita Saffioti told 7.30. "The industry funds over the next three years, we've got plans to invest about $19.5 billion, and we think that'll create 200,000 jobs over …

It’s finally time to spend on infrastructure
4 years, 9 months ago

It’s finally time to spend on infrastructure

CNN  

New York CNN Business — In 2016, investors thought there would be a major focus on rebuilding the nation’s infrastructure from the next president. “Given all the spending on Covid-related stimulus, you’d think an infrastructure bill would be a no-brainer.” Creswell says he thinks there’s a 30% chance of a big bill passingthis year given that politicians will be focusing …

Scott Morrison outlines details of Government's JobMaker plan, including fast-tracking infrastructure projects
4 years, 9 months ago

Scott Morrison outlines details of Government's JobMaker plan, including fast-tracking infrastructure projects

ABC  

Inland rail from Melbourne to Brisbane and a second underwater power cable to Tasmania are among projects given priority status by the Commonwealth Government in a bid to fast-track jobs on major infrastructure works. Key points: The Prime Minister will outline 15 major projects which will be given fast-tracked approvals Under a new target, Commonwealth approval times will be cut …

Billions of dollars pumped into coronavirus-hit economy in bid to stave off recession, Scott Morrison announces
5 years ago

Billions of dollars pumped into coronavirus-hit economy in bid to stave off recession, Scott Morrison announces

ABC  

The Federal Government has announced a $17.6 billion economic stimulus package in a bid to keep Australians in jobs as the economy takes a hit from the spread of coronavirus. Key points: The Government will pump $11 billion into the economy between now and July Welfare recipients will get $750, and there will be tax breaks for small businesses The …

Scott Morrison has announced $18 billion in economic stimulus, so what's in it for you?
5 years ago

Scott Morrison has announced $18 billion in economic stimulus, so what's in it for you?

ABC  

Prime Minister Scott Morrison has announced $17.6 billion in stimulus measures in response to coronavirus. Here's what each will receive: Welfare recipients : an extra $750 per person : an extra $750 per person Small businesses with apprentices : up to $21,000 to keep apprentices in work through wage subsidies : up to $21,000 to keep apprentices in work through …

Prime Minister Scott Morrison announces $96 million for Perth transport infrastructure
6 years ago

Prime Minister Scott Morrison announces $96 million for Perth transport infrastructure

ABC  

Prime Minister Scott Morrison has announced nearly $100 million in funding for upgrades to Perth's transport infrastructure, during a three-day campaign tour of the city. The 'congestion-busting package' includes $96 million in upgrades to ease road bottlenecks at Hazelmere, Alkimos and Kewdale, widening of the Kwinana and Mitchell Freeways, and a new train station on the Mandurah line. The improvements …

Donald Trump accused of breaking his promises on big infrastructure spending
7 years, 10 months ago

Donald Trump accused of breaking his promises on big infrastructure spending

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. While adding $200 billion for infrastructure spending, Mr Trump’s budget would cut the Department …

Federal budget 2017: Scott Morrison reveals tax hike, welfare drug tests and hit to banks
7 years, 10 months ago

Federal budget 2017: Scott Morrison reveals tax hike, welfare drug tests and hit to banks

ABC  

Almost all Australians will pay more tax in a surprise hit and thousands of Centrelink clients will be drug tested and face the possibility of the Government controlling their spending in Treasurer Scott Morrison's second budget. Key points: Treasurer announces budget forecasts a deficit of $29.4 billion in 2017-18 Government projects return to $7.4 billion surplus in 2020-21 Most Australians …

Donald Trump's infrastructure plan may put Canberra under pressure
8 years, 3 months ago

Donald Trump's infrastructure plan may put Canberra under pressure

ABC  

US President-elect Donald Trump may have backed away from building a wall along the Mexican border, but it is his enthusiasm for more traditional infrastructure which is now in focus. Australia has one of the lowest public-sector debt ratios in the developed world, which is why the Reserve Bank and many economists have been urging the Government to take advantage …

Autumn Statement: Philip Hammond's infrastructure spending to fall short by £15bn predicts Office for Budget Responsibility
8 years, 4 months ago

Autumn Statement: Philip Hammond's infrastructure spending to fall short by £15bn predicts Office for Budget Responsibility

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. And the OBR also says that “past experience suggests …

Why this is the perfect time to invest in infrastructure, and why it probably won’t happen
8 years, 8 months ago

Why this is the perfect time to invest in infrastructure, and why it probably won’t happen

LA Times  

Broken water mains, creaking subway systems, tens of thousands of rickety bridges and countless miles of shoddy, traffic-clogged roads. Before it’s too late, “we should be creating the infrastructure bank and moving aggressively to fund it,” says Rep. John Garamendi, a member of the House Transportation and Infrastructure Committee. In the mid-1960s, federal, state and local government spending for structures, …

Infrastructure investment needed to support economic growth: McKinsey
8 years, 9 months ago

Infrastructure investment needed to support economic growth: McKinsey

China Daily  

WASHINGTON - The world needs to dramatically increase spending in infrastructure by about $1 trillion per year in the next 15 years just to keep pace with economic growth, according to a new report released by the McKinsey Global Institute. But this has not been enough to avoid significant gaps, and investment needs are only growing steeper," McKinsey said earlier …

Infrastructure investment needed to support economic growth: McKinsey
8 years, 9 months ago

Infrastructure investment needed to support economic growth: McKinsey

China Daily  

WASHINGTON - The world needs to dramatically increase spending in infrastructure by about $1 trillion per year in the next 15 years just to keep pace with economic growth, according to a new report released by the McKinsey Global Institute. But this has not been enough to avoid significant gaps, and investment needs are only growing steeper," McKinsey said earlier …

Osborne urged to spend more on infrastructure by OECD
9 years, 1 month ago

Osborne urged to spend more on infrastructure by OECD

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The OECD has urged the …

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