MEDIA RELEASE - LACK OF TRANSPARENCY IN NBN CORPORATE PLAN IS A COVER UP FOR UNFUNDED PROMISES AND COST BLOWOUTS

MEDIA RELEASE - LACK OF TRANSPARENCY IN NBN CORPORATE PLAN IS A COVER UP FOR UNFUNDED PROMISES AND COST BLOWOUTS - 23 SEPTEMBER 2020

23 September 2020

SENATOR KATY GALLAGHER
SHADOW MINISTER FOR FINANCE
LABOR SENATOR FOR THE ACT

MICHELLE ROWLAND MP
SHADOW MINISTER FOR COMMUNICATIONS
MEMBER FOR GREENWAY

LACK OF TRANSPARENCY IN NBN CORPORATE PLAN IS A COVER UP FOR UNFUNDED PROMISES AND COST BLOWOUTS

The NBN Corporate Plan which has been released today is nothing short of a disgrace.

The following key pieces of information are not available:

No updated estimate of peak funding from these cost blowouts
No updated NBN debt profile
No updated capital expenditure by technology
No operating expenditure profile

The lack of transparency in this document is nothing short of a cover up designed to conceal unfunded announcements made by Minister Fletcher today.

The lack of transparency also conceals the new cost blowouts which occurred before these upgrade plans were even announced.

Labor calls on the Morrison Government and NBNCo to release an updated document that does not treat Australian taxpayers as fools.

Australians have spent $51 billion on a second-rate NBN, and they are now not being told what the cost blowout of the overbuild will be.

WEDNESDAY, 23 SEPTEMBER 2020