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

I thank Senator Lundy for her question and for her ongoing interest in this area. Yesterday’s announcement that Telstra and NBN Co. have reached a financial heads of agreement is a historic moment for the Australian telecommunications sector. It will be remembered as the moment the Australian government and the industry joined together to revolutionise the telecommunications sector in this country.

The discussions between Telstra, NBN Co. and the government have been complex and at times very tough. This agreement provides us with a clear pathway to take Australia from the copper age to the fibre future. It also provides us with a clear pathway towards reforming the telecommunications sector to achieve structural separation—a significant and long overdue microeconomic policy reform that will unleash a new wave of competition and innovation in Australia. This agreement paves the way for a faster, cheaper, more efficient rollout of the National Broadband Network with faster take-up. It means that taxpayers will benefit because the overall cost of building the network will be reduced and there will be higher take-up rates and revenue for NBN Co. A greater proportion of the NBN rollout will be underground, with less overhead cabling, and Australia’s largest telecommunications company, Telstra, will become a participant in the rollout of the NBN— (Time expired