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It sounds as though the Government is going to write off $31bn of taxpayer funded NBN debt, so that taxpayers can get cheaper internet, that they paid for.?
This means the taxpayer will probably no longer have to pay twice as much for internet access to the system they paid put in, to replace the previous system they paid put in and only paid $30 access for.?
The retail internet providers send their thanks for a job well done and look forward to putting more of the live and free content, onto the streaming platform.
In a new draft pricing proposal lodged with the Australian Competition and Consumer Commission this week, the government-owned company said it would no longer seek to recover the full $44 billion sunk into the initial build and instead would only claw back $12.5 billion from retail internet providers.
NBN Co stressed the $31.5 billion contraction to its Initial Cost Recovery Amount (ICRA) would not itself lead to any writedown or impairment of its value, which would hurt the federal budget’s bottom line, saying it will allow instead the setting of “lower wholesale prices in future” than otherwise.
Quotes attributable to the Minister for Communications, the Hon Michelle Rowland MP:
“At the core of the Albanese Government’s priorities are the long-term interests of Australian consumers. This means affordable prices and a quality, resilient network.
This means the taxpayer will probably no longer have to pay twice as much for internet access to the system they paid put in, to replace the previous system they paid put in and only paid $30 access for.?
The retail internet providers send their thanks for a job well done and look forward to putting more of the live and free content, onto the streaming platform.
NBN writes off recovering $31b invested to build network
The government-owned company said it would no longer seek to recover the full $44 billion sunk into the initial build and would only claw back $12.5 billion.
In a new draft pricing proposal lodged with the Australian Competition and Consumer Commission this week, the government-owned company said it would no longer seek to recover the full $44 billion sunk into the initial build and instead would only claw back $12.5 billion from retail internet providers.
NBN Co stressed the $31.5 billion contraction to its Initial Cost Recovery Amount (ICRA) would not itself lead to any writedown or impairment of its value, which would hurt the federal budget’s bottom line, saying it will allow instead the setting of “lower wholesale prices in future” than otherwise.
Quotes attributable to the Minister for Communications, the Hon Michelle Rowland MP:
“At the core of the Albanese Government’s priorities are the long-term interests of Australian consumers. This means affordable prices and a quality, resilient network.