NSW is the chief beneficiary of a $4.7 billion federal spending package announced yesterday to boost road, rail and education infrastructure, as well as give business more than $1.6 billion in tax breaks to encourage investment during the economic downturn.

The Prime Minister, Kevin Rudd, said the package - of which $2.5 billion was new money - was the curtain-raiser for what would be a "much more significant" package of infrastructure measures in the new year when the Government dips into its $12.6 billion Building Australia Fund. It would create 32,000 jobs and boost economic growth by between 0.25 percentage points and 0.5 percentage points.

Of the $4.7 billion, NSW will receive about $1.5 billion for road, rail and education projects, the largest of which will be an upgrade to the rail networks in the Hunter Valley.

http://www.smh.com.au/news/national/nsw-spree-winner/2008/12/12/1228585118314.html