Anthony Albanese makes NBN a major election plank, pledging $3bn cash injection

Labor will inject $3bn in equity into the national broadband network, as Anthony Albanese warns against letting the critical infrastructure fall into the Coalition’s hands.

In his latest pre-election announcement, the Prime Minister on Monday said only Labor would “finish the NBN” and “keep the NBN in public hands”.

The equity injection will fund the upgrade of Australia’s remaining national fibre to the node network, which the Government claims will deliver higher internet speeds for more than 600,000 premises by 2030.

Mr Albanese claimed the alternative was for the Coalition to sell the NBN off “to the highest bidder”.

“Take yourself back where the last time the Coalition were seeking Government, they said that they would stop the rollout of fibre because it was all about, accoridng to Tony Abbott, all about downloading videos and movies. They didn’t understand that the NBN is about productivity, driving the economy, creating jobs,” the PM said.

“It’s about how we live our life. It is about telehealth, education services. It is absolutely critical to the way that a modern economy and a modern society functions.”

He said Australians “deserve high-speed Internet at an affordable price”.

Asked whether it would make internet connection cheaper, Communications Minister Michele Rowland said fibre was the “one future-proof technology” that ensured all Australians had access to high quality internet.

“I will not be lectured, and this Government won’t be lectured, when it comes to the cost of the NBN,” she said.

NBN Co will contribute more than $800 million to the project.