The states and territories have praised the Federal Government's $42 billion stimulus package, saying it will inject life into their struggling economies.

The Nation Building and Jobs Plan package includes almost $15 billion for school infrastructure and more than $12 billion in tax and cash bonuses to low and middle income families.

The package follows a cut to interest rates by 1 percentage point, taking rates to 3.25 per cent.

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Posted by boyang at February 3, 2009 2:29 AM