The Australian Capital Territory has an estimated $8bn investment gap with $6.6bn in unspent funds

Capital Territory Minister for Finance Brad Hazzard has said the Government needs to find more money to invest in the capital in a bid to “avoid a return to the ‘fiscal cliff'”.

The Government’s 2015 budget forecast $6bn of savings to the capital’s budget over the next five years.

“There are still more than half of the projects that need to be completed, and the government still has $6 billion of funding available to meet those projects,” Mr Hazzards said.

A further $6 million is needed to fund a major new train line.

Mr Hazzarding said the capital was facing an “unprecedented” funding gap.

The State Government said the gap was due to an “overspend” on infrastructure projects and the lack of new infrastructure.

It is asking for $5.3 billion from the State Government, with the rest to come from other sources.

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Originally published as Capital Territory needs $6billion in funding to avoid ‘federal cliff’