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Banks take a hit as Australia raises billions to fund new projects
Published Tue, May 9, 2017 · 09:50 PM
Sydney
AUSTRALIA pledged billions of dollars in infrastructure spending and new measures to tackle housing affordability in handing down its budget on Tuesday, with levies on banks and foreign workers to help pay for it.
Treasurer Scott Morrison, juggling waning support for his government with the need to demonstrate fiscal responsibility to keep Australia's coveted AAA credit rating, called his decisions "fair and responsible".
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