NATIONAL AFFAIRS: Fund infrastructure with a development bank*

There is a better way to finance infrastructure than relying on budget deficits or raiding superannuation funds, argues Patrick J. Byrne. A development bank would be a better vehicle for investing in nation-building projects – and for rolling over some of Australia’s huge foreign debt.The federal budget announced $22 billion for new infrastructure projects, which KPMG accountants estimate will actually cost $80 billion. However, most of this won’t start for some years. Only $1.7 billion will be …

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