Ian Macdonald (Queensland, Liberal Party) Share this | Hansard source

Mike Kaiser—you're quite right, Senator Smith. It is the government's view, however, that, for the moment, it remains appropriate that the NBN retain responsibility, or the board retains responsibility, for recruiting key management personnel and setting the remuneration. The NBN board itself is now made up of leaders with specific telecommunications, industry, government and wider commercial expertise. The government is, at this stage, prepared to leave the NBN board to determine the appropriate remuneration required to attract the talent needed to manage the NBN rollout. When compared to Australian businesses of similar size and to executive salaries in the communications sector—and I particularly mention the communication sector—NBN's remuneration is comparable with executive salaries in public companies.

But, again, I know that under the guidance of Senator Fifield and the government, generally, the NBN board will be aware that they should pay industry standards. If they go beyond it, as happened in the case years ago with the Australia Post board, then the government would be watching that very closely. It is the government's and the public's view that what was happening in Australia Post didn't pass the community standard that is expected. The government is very conscious of that. They changed the laws in relation to Australia Post. Whilst at the moment the government is happy to leave the qualified board at NBN to get industry-standard people there at the industry-standard price, it will be keeping a very close watching eye on that.

So the government won't be supporting the bill, because (a) part of it has already been actioned by the Turnbull government, and (b) we think that with NBN at the moment and in that particular sector of the economy, it's one that's best left to a qualified board, which NBN now has.