Australian Government (Tax payers) to pay $11 billion of NBN’s $43 billion

iTnews is reporting that Government will pay around $11 billion of the total estimated $43 billion it will cost to build the National Broadband Network. This news comes courtesy...

NBN

iTnews is reporting that Government will pay around $11 billion of the total estimated $43 billion it will cost to build the National Broadband Network. This news comes courtesy of Communications minister Stephen Conroy in Senate Estimate hearings.

The opposition will surely respond negatively to this announcement, with the government doing nothing to address their criticisms of having no detailed plan for the project before committing to large-scale spending.

$11 billion is more than double the governments commitment to $4.7 billion for the original Broadband build. The additional $32 billion will largely be made up from private business investment.

Senator Conroy also confirmed there’s incredible interest in the NBN, holding face-to-face meetings with more than 40 interested parties, including both 1st and 2nd tier ISPs.

More @ iTnews

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Creator of techAU, Jason has spent the dozen+ years covering technology in Australia and around the world. Bringing a background in multimedia and passion for technology to the job, Cartwright delivers detailed product reviews, event coverage and industry news on a daily basis.