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Australian stimulus plan approved

Australia’s Senate has passed the Labor government’s A$42bn ($27bn; £19bn) stimulus plan after the bill was blocked during an earlier vote.

It was approved after the government reached a deal with an independent senator who had earlier joined the Liberal Party-led opposition.

Prime Minister Kevin Rudd says the bill is vital to boost the economy amid a global economic slowdown.

On Friday the Australian Senate backed the bill by 30 votes to 28.

Labor does not have a majority in the Senate, and some compromise had been expected.

‘National interest’

The approval came after the government agreed to A$1bn in extra funding for water projects.

“I’m pleased to say I believe we have been able to reach a compromise, which while not giving everybody what they want, may give everyone what they need,” said independent senator Nick Xenephon, who had blocked the plan a day earlier.

complete article @ BBC News

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