Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Hansard source

I am very pleased to answer that question from Senator Cameron and to remind the chamber yet again that this is a reform not only for the communications sector but also for the Australian economy. It is an economic reform, and that is how we should regard it. We know that we need to improve broadband in this country. We know that in 2007 our broadband speeds lagged behind some 26 OECD countries. We have been ranked in the bottom half in terms of broadband penetration, and we know we have a problem. This is a government that has committed to fix it.

The National Broadband Network is vital to our national economic success. It will create a competitive telecommunications sector that will benefit all Australian households and businesses, regardless of where they are located. It will help drive long-term productivity growth in our economy, and Australians from all over the country, from all walks of life, will have access to affordable, fast broadband.

A report by the United Nations, to which my colleague Senator Conroy has previously referred, has estimated that for every 10 per cent increase in broadband penetration we can expect an average 1.3 per cent additional GDP growth. These are the types of productivity benefits that are put at risk by an opposition that remains determined to wreck this reform and to wreck any reform.

Senator Joyce was very open about this over the last few days. He was not interested in discussing the benefits for regional Australia, he was not interested in discussing the economic benefits. What he made clear was the political agenda that lies behind the opposition’s approach, and that is nothing except wrecking this reform for their own political gain and putting their political gain ahead of the national interest. (Time expired)