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Australia PM: No plan to up A$200 bln borrowing cap

Published 04/23/2009, 06:54 PM
Updated 04/23/2009, 06:56 PM

CANBERRA, April 24 (Reuters) - Australia's Prime Minister Kevin Rudd said he did not see a need to break the government's self-imposed A$200 billion ($141.4 billion) limit on borrowings, but stressed it would depend on continuing taxation income.

"We don't see the need for that at this stage, but we are very concerned about what happens in the future about further collapses in taxation revenue. That is the key variable here," Rudd told Australian radio on Friday. ($1=1.414 Australian Dollar) (Reporting by Rob Taylor; Editing by James Thornhill)

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