Archive select date
ense
Live HADI TV
Note: Double click for full screen
Friday, February 13, 2009
Australia's MPs approve stimulus package
Australia's upper house passes the Labor government's A$42billion ($27bn) stimulus package after the bill was blocked during an earlier vote.
The bill was backed in the Australian Senate on Friday by 30 votes to 28.
The approval came after the government reached a deal with an independent lawmaker who had earlier joined the Liberal Party-led opposition.
Labor does not have a majority in the Senate, and some compromise had been expected.
Earlier on Thursday, Senator Nick Xenophon "no" vote saw the package defeated in a tied vote in its first attempt to clear the Senate.
The approval of the package clears the way for the government to roll out planned initiatives designed to boost the economy and avert a recession.
"Australia cannot resist the international economic forces and we cannot defy the effects of the downturn in our own region. But through decisive government action we can reduce the effects of the global recession on Australian families, jobs and small businesses," Premier Kevin Rudd told lawmakers.
Financial experts say the ultimate approval of the stimulus package is a positive for the economy.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment