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VICTORIA wants at least $10 billion of the money put aside in Tuesday's federal budget to build roads, rail lines, hospitals and schools. State Treasurer John Lenders wasted no time pitching for Victoria's share of the $40 billion that his federal counterpart, Wayne Swan, put into three separate investment funds. Victoria has 25% of the nation's population, and Mr Lenders said it deserved the same share of the money from the funds.
But it may take a long time before the state is paid $10 billion from the funds, which are earmarked for spending on transport, education and health projects. The funds will be established with budget surpluses from the next two years, which will be added to money transferred from the Higher Education Endowment Fund and Communications Fund, both established by former treasurer Peter Costello.
Of the money, $20 billion will go to the Building Australian Fund, aimed at transport, $10 billion to the Education Investment Fund and $10 billion to the Health and Hospitals Fund.
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