Prime Minister Anthony Albanese has announced a $3 billion investment to upgrade the National Broadband Network (NBN). The funds will be used to enhance internet speed and connections for millions of Australians. The investment aims to upgrade fibre-to-the-node connections and establish an additional 622,000 new fibre connections.
By 2030, more than 11 million homes and businesses will have access to internet speeds of up to 1Gb per second. “Labor created the National Broadband Network, and only Labor will finish the NBN,” Mr Albanese stated. NBN Co Chief Executive Ellie Sweeney emphasized the necessity of this upgrade.
She noted that the average household now consumes about ten times more data than when the NBN was initially built. Communications Minister Michelle Rowland remarked on the current state of thousands of Australian homes stranded on ageing and degrading copper lines.
NBN to enhance speed and connections
She described the upgrade as a “long-term investment” poised to yield significant returns. The announcement also set the stage for a political confrontation with the Coalition as the federal election approaches. Mr Albanese challenged the opposition to guarantee public ownership of the NBN, warning that otherwise, it might be sold off to the highest bidder.
The government-commissioned Accenture to model the economic outcomes of this policy. They projected a $10.4 billion cumulative economic uplift over the next decade. In a contrasting stance to Opposition Leader Peter Dutton’s proposal for nuclear energy investment, Prime Minister Albanese defended the NBN investment as economically viable and attractive to potential investors, unlike nuclear energy.
As the election nears, speculation surrounds whether Parliament will reconvene in February. While the government continues to push for the Senate’s approval of the NBN public ownership bill, Mr Albanese remained non-committal about the exact parliamentary schedule. This announcement marks the beginning of a crucial period leading up to the federal election, with both major parties gearing up their campaigns.
