Albanese announces extra $3b for NBN
The news: Prime Minister Anthony Albanese has announced his government will “finish” the National Broadband Network with a $3 billion equity injection.
The numbers: The fresh funds will be used to deliver access for around 622,000 additional premises by 2030.
They are in addition to the government's $2.4 billion outlay for NBN upgrades in 2022.
Modelling by Accenture suggests the upgrade program will provide a $10.4 billion cumulative uplift in GDP over the next decade.The modelling suggests individual households could save more than 100 hours and $2,580 per year in avoided travel time and costs from accessing faster broadband.
When the upgrade program is complete, more than 94% of premises on the fixed line network — over 11 million homes and businesses — will have access to connections enabling speeds of up to 1 Gbps.
The context: Albanese has been attempting to make the NBN a political issue heading into the election, due by 17 May, since it introduced legislation last year that would make it more difficult for a future government to sell the network. After the Coalition voted against the legislation, Albanese has been claiming that Opposition Leader Peter Dutton may sell the NBN if it wins government.
What they said: "Families and businesses deserve high-speed internet at an affordable price. Labor created the NBN. Only Labor will finish the NBN and, importantly, only keep the NBN in public hands," Albanese said.
“Peter Dutton wants to dismantle it, just like he wants to undermine Medicare and other services Australians rely on."
Finance Minister Katy Gallagher said: "The Albanese Government wants to ensure that every Australian, no matter where they live, has access to the tools and opportunities they need to succeed, including access to the highest quality broadband."
“This funding is necessary and unavoidable to address growing reliability and security issues caused by the opposition’s costly decision to build a sub-standard network reliant on rapidly degrading copper," she said.
"Removing copper from the FTTN network means we are finally building the NBN that was originally planned. Rolling out faster and more reliable internet is a key priority of this government, it’s good for our economy, it’s better for business, and helps to deliver stronger, more connected communities.”
The source: Prime Minister's Office