Deborah O'Neill (NSW, Australian Labor Party) Share this | Hansard source

My question is to the Minister for Communications, Senator Fifield. I refer to the minister who, when asked about the cost of the NBN in May of this year, stated:

Well, the Commonwealth has indicated that our cap on equity contributions will be $29.5 billion. NBN will have to borrow money beyond that, but 29.5 billion is the Commonwealth cap.

Last week, the government announced it would abandon its plans for NBN to source private debt funding instead funding the remainder of the rollout through taxpayer-backed loans to NBN. Why is the government breaking this election promise?