Australian senate delays economic stimulus package

Special Report:Global Financial Crisis

CANBERRA, Feb. 5 (Chinese media) -- The Australian Opposition on Thursday combined

with the Greens and other minor parties to delay a vote on the Australian

government's 42 billion Aust dollars (26 billion U.S. dollars) economic stimulus

package.

The Senate formally agreed to hold an inquiry into the economic stimulus

plan, which was passed in the House of Representatives early Thursday morning

after an all-night sitting.

The Senate motion was supported by the Opposition, Greens and the two

crossbench senators, who are all pushing for details of the modeling

underpinning the package.

The package will be examined by the Finance and Public Administration and

Community Affairs committees, which will meet Thursday night, Friday and Monday,

before reporting back to the Senate on Tuesday.

They will seek evidence from government officials, non-government

organizations, community groups and other interested parties.

The Senate will then debate the legislation next week, instead of holding

planned estimates hearings, aiming for a final vote by late Thursday night.

Australian Lower House passes gov't stimulus

plan for economy

CANBERRA, Feb. 5 (Chinese media) -- The Australian

government's 42 billion dollars (26 billion U.S. dollars) economic stimulus

package passed by the Lower House of parliament Thursday after a 15-hour debate.

The MPs entered the chamber at 04:55 a.m. local time

Thursday to start voting on six bills implementing the package which aims to

head off a looming recession. Full story

Australian PM announces stimulus package to

stave off recession

CANBERRA, Feb. 3 (Chinese media) -- Australian Prime

Minister Kevin Rudd announced on Tuesday that his government was pumping 42

billion dollars (26 billion U.S. dollars) into the economy to stave off

recession.

"If you looked carefully at the treasury prognosis

for the period ahead minus this stimulus package, it will be quite clear that

the economy would run a grave risk of generating negative growth, most

particularly in the (20)09-10 financial year," he told reporters in

Canberra. Full story