AU$ 28.8 billion for construction in Nation Building plan

By Richard High07 February 2009

Australian Prime Minister Kevin Rudd

Australian Prime Minister Kevin Rudd

Australian Prime Minister Kevin Rudd has announced an AU$ 42 billion (US$ 26.5 billion) Nation Building and Jobs Plan targeting infrastructure and low income households.

The country's Treasurer, Wayne Swan, said AU$ 28.8 billion (US$ 19.3 billion) would be invested in schools, housing and roads.

A further AU$ 12.7 billion (US$ 8.52 billion) will provide cash support and tax cuts for low-income families, to be paid next month.

The country's central bank has also cut interest rates to 3.25%, the lowest level in 45 years.

There are five major components of the Nation Building and Jobs plan, including:

Black Spots, Boom Gates, Regional Roads and Community Infrastructure

  • 350 additional projects in the road accident prevention Black Spot Program and the installation of around 200 new boom gates at high risk rail crossings

  • AU$ 650 million (US$ 436 billion) funding boost for local community infrastructure and maintenance on Australia's national highways

Build 20000 Social and Defence Homes

  • Construction of 20000 new social housing units and 802 new houses for the Australian Defence Force.

  • Urgent maintenance to upgrade around 2500 vacant social houses

Building the Education Revolution

  • Build or upgrade large scale infrastructure, such as libraries and halls in every primary school, special school, and K-12s school in Australia.
  • Build 500 new science laboratories and language learning centres in schools that can demonstrate need.

  • Up to AU$ 200000 (US$ 134000) to every Australian school for maintenance and renewal of school buildings.

Energy Efficient Homes:

  • Installing ceiling insulation in 2.7 million Australian homes which will cut around AU$ 200 (US$ 134) per year off the energy bills of these households

  • Reduce greenhouse gas emissions by around 49.4 million tonnes by 2020, the equivalent of taking more than 1 million cars off the road

Small Businesses and General Business Tax Break

  • A 30% in every dollar investment tax break for small and general businesses buying eligible assets.
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