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

Thank you, Mr President, and welcome back safely from Mexico, can I say on behalf of the whole chamber. The National Broadband Network is nation building for the 21st century. It will transform the Australian economy in the same way that rail and electricity networks transformed Australia in past centuries.

A recent report by Access Economics found that the national high-speed broadband network will positively impact our economic performance and lead to economy-wide productivity growth that would be 1.1 per cent higher after 10 years compared to what it would be if the network were not built. A report by the Centre for International Economics in November 2008 said that broadband could lift national economic output by 1.4 per cent after five to six years. This is equivalent to $15 billion in GDP in 2007-08. Compare that with the GST, which was championed by the Howard government on the basis that it would add to GDP growth by 0.5 per cent. The great economic reform put forward by those opposite—0.5 per cent.

The Rudd government understands that its investment in the National Broadband Network will create jobs and drive productivity today and into the future. It will create new efficiencies and sustainability. It will improve the availability of emerging services and applications in areas such as health care and education. It will position Australia to take advantage of the global recovery when it comes. Meanwhile, the Leader of the Opposition—(Time expired)