The Australian government has pledged A$45.6million (£20.3m) towards its country's bid to host the 2018 World Cup finals.

It pits the Australians against England, with the US, Mexico, Spain, China and Holland/Belgium also hope to host football's showpiece tournament.

England are the bookies favourites to win the rights, having last hosted the event in 1966 and failed in an attempt to host it in 2006.

The US held it in 1994, while Holland and Belgium co-hosted Euro 2000. That appears to leave China as England's biggest rivals, having succesfully held the Women's World Cup last year and the Olympics this summer.

Frank Lowy, chairman of the Australian football federation, insisted his nation should not be dismissed so easily.

"This is not an impossible dream. It is very achievable. While I understand that there is a view emanating from Europe that it may well be the turn of Europe to be the hosts in 2018, the fact is football is a world game," he said.

"Europe has unquestionably been the focus of football growth and development for much of the past 80 years, but the future of football is in the new world - that is, the developing and growing regions of the world such as Asia.

"The progress we have made in football has also made a big impact on the world and I think we have the sympathies of the executives of Fifa and the football world."