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

I thank the senator for her question. As it happens, the Boston Consulting Group released a report earlier this week which looked at the internet economy in the G20 group of nations. The report, aptly titled The $4.2 trillion opportunity, shows that the internet economies of the G20 nations, which includes Australia, will grow at an annual rate of eight per cent over the next five years. This growth will:

… far outpace just about every traditional economic sector producing wealth and jobs. No-one, not individuals, businesses or governments, can afford to ignore the ability of the internet to deliver more value and wealth to more consumers and citizens more broadly than any economic developments since the Industrial Revolution.

That is why the Gillard government is absolutely committed to investing in Australia's biggest infrastructure project, the NBN. The NBN will be a vital platform for Australia's economic prosperity well into the 21st century. It will have the reach to provide every business and every family access to world-class technology. The Gillard government's approach is in stark contrast with the opposition, who have now had 20 failed broadband plans. I strongly urge the coalition— (Time expired)