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States urged to spend another $40b in Reserve Bank call on jobs – Sydney Morning Herald

Australia’s two biggest states appear ready to lift their spending on infrastructure after Reserve Bank governor Philip Lowe asked premiers to commit another $40 billion to major projects in a two-year spending surge.

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The plan, which took some state and territory leaders by surprise, would require states to almost double the $48 billion they were previously planning to spend on major projects over the next two years.
Mr Morrison said Dr Lowe named energy, transport, housing and schools as some of the target areas for spending, saying this could go towards infrastructure as well as training and other programs.
The Prime Minister said the proposal was to invest about 2 per cent of GDP, which was equivalent to…

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