Stephen Conroy (Victoria, Australian Labor Party, Deputy Leader of the Government in the Senate) Share this | Hansard source

I thank the good senator for her question. The Gillard government's continued commitment to build the National Broadband Network will provide Australians with the key enabling infrastructure for a modern digital economy. As the biggest infrastructure investment in Australia's history, the NBN will be directly responsible for the creation of up to 20,000 new jobs. Some of the many companies that have already benefited from NBN Co. contracts include Fujitsu, Silcar, Corning, Prysmian, Warren and Brown, B&R Wrecking and Tyco Electronics. But the NBN is about more than fibre in the ground. The NBN is a platform for driving improved productivity in every business and every household.

Earlier this month Deloitte Access Economics released a report on the power of the internet that estimated its direct contribution to the Australian economy is worth around $50 billion. It is anticipated that the NBN will be a catalyst to drive growth with the value estimated to be $70 billion over the next five years. It has found that the internet has direct benefits to the economy as well as indirect benefits to consumers such as convenience, increased access to a variety of goods, services, informa­tion and time saving. More specifically focusing on Australia, Allen Consulting has estimated that, if the number of Australian households connected to the internet increased by 10 percentage points, this would provide gains to households of $2.4 billion. (Time expired)