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Opposition Finance spokeswoman Helen Coonan says yesterday's interest rate rise should prompt the Government to rethink spending on several major infrastructure projects.
The Reserve Bank's decision to lift interest rates by 25 basis points to 3.25 per cent has prompted accusations from the Opposition that the Government's stimulus spending is responsible for the rise.
The Opposition believes the rise is proof that the economy is recovering and that stimulus spending should be wound back.
Senator Coonan says the Government should start by looking at the $8.5 billion earmarked in this year's Budget for a series of road, rail and ports projects.
She says the Government has provided little detail on the benefits of the projects.
"Because Infrastructure Australia ticked a whole lot of projects we don't know what ultimate productivity benefits they are going to have for the economy," she told ABC2's News Breakfast.
"It's a very good opportunity for the Government to take a very good look at whether this final part of the stimulus package is really necessary whether it's going to get the productivity benefits claimed for it."
Senator Coonan says the majority of the effect of the billions in stimulus spending has passed.
"$20 or $30 billion in borrowed money is going to add to the debt and we need to know before any of that's spent that you're going to get value for money," she said.
Projects listed in the Budget include the Darwin port expansion, and several rail and road upgrades across the country.
The Government has already vowed to continue with its stimulus spending saying any early withdrawal would risk the economic recovery.
Treasurer Wayne Swan says the stimulus packages have been designed to gradually wind back in the coming months.
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