Malcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Hansard source

Let's look at this. Let's look at what the Leader of the Opposition said today in a considered ministerial statement. He said:

… after insisting that the government's funding contribution was capped, the Liberals have been forced to step in with a $19.5 billion loan to complete the rollout …

Ever since the first corporate plan since the election, ever since the first strategic review of Labor's NBN it has always been clear that the NBN would have to borrow a substantial amount of money to complete the project. It was always clear. And it was always clear that the $29½ billion commitment was for equity—that is, to buy shares in the company, for the benefit of the Leader of the Opposition, as distinct from borrowing money. So it has been perfectly clear for years and years that the government was going to have to provide a loan, or a loan would be given from third parties, to the NBN Co to complete the rollout. That was always clear.

But, you see, the Leader of the Opposition is so dishonest that he is prepared to stand up and read a speech and say 'after insisting the government's funding contribution was capped'—that is not the case. We said the equity contribution was capped, and it is. We were always going to need to borrow money. He knew that, everybody knew that. And he says we have been forced to step in. He has deliberately misled on this matter. He knows what the facts are—

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