KEVIN Rudd has agreed to fast-track plans to unlock the nation's $20 billion infrastructure fund in an attempt to head off the effects of the global financial crisis.
The Australian reports that the Prime Minister will also slash red tape preventing private companies from investing in infrastructure such as roads and ports in partnership with governments.
And Mr Rudd has also secured the agreement of the premiers to take control of consumer credit laws to allow a crackdown on unscrupulous mortgage dealers and payday lenders.
The agreements came yesterday at a meeting of the Council of Australian Governments in Perth, The Australian reports.
The acceleration of the Government's infrastructure plans and the moves to impose greater national co-ordination on lending came as it emerged the credit squeeze was forcing companies to reconsider major debt-funded projects.
