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| Version 0 | Version 1 |
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| Joe Hockey strikes infrastructure agreement with states | Joe Hockey strikes infrastructure agreement with states |
| (34 minutes later) | |
| Treasurer Joe Hockey has struck what he says is a historic agreement with his state counterparts on infrastructure funding. | Treasurer Joe Hockey has struck what he says is a historic agreement with his state counterparts on infrastructure funding. |
| All states have agreed to an in-principle deal to sell off public assets and direct profits into productive infrastructure projects, such as roads, to create jobs and lift economic growth. | |
| Under the deal, the commonwealth will provide a funding pool for two years until 30 June, 2016, providing an additional 15% of the asset sale value back to the states. The total amount available in the pool will be revealed in the 13 May budget. | Under the deal, the commonwealth will provide a funding pool for two years until 30 June, 2016, providing an additional 15% of the asset sale value back to the states. The total amount available in the pool will be revealed in the 13 May budget. |
| Hockey said the states must agree to use the proceeds for new infrastructure investments above and beyond what they have already committed to. | Hockey said the states must agree to use the proceeds for new infrastructure investments above and beyond what they have already committed to. |
| “We need to fill an infrastructure hole in the economy and we need to do it fast,” he told reporters in Canberra on Friday. | “We need to fill an infrastructure hole in the economy and we need to do it fast,” he told reporters in Canberra on Friday. |
| Hockey described the meeting as “incredibly productive”, noting it had produced an unanimous decision. However, there had been some predictable “grizzling” about distribution of GST revenue. | Hockey described the meeting as “incredibly productive”, noting it had produced an unanimous decision. However, there had been some predictable “grizzling” about distribution of GST revenue. |
| The treasurer also briefed the meeting about the challenges he was facing with the federal budget. There was common ground on the need to make “difficult and important” decisions. | The treasurer also briefed the meeting about the challenges he was facing with the federal budget. There was common ground on the need to make “difficult and important” decisions. |
| “I alluded them to the fact that everyone will need to help to undertake the fiscal repair necessary,” Hockey said. | “I alluded them to the fact that everyone will need to help to undertake the fiscal repair necessary,” Hockey said. |