Update: The government’s NBN rollout has come under fire from opposition and a new report suggests the rollout may be over budget.
The report from the Commonwealth Bank says the Coalition’s $2.5 billion plan to upgrade the network to fibre-to-the-node (FTTN) has cost $2 billion over five years, compared to $1.5bn in the previous government’s rollout plan.
The analysis is based on the government’s own costings and a “cost-benefit analysis” by PricewaterhouseCoopers, which is run by Priceline, the accounting firm.
The government says the cost of the NBN is $9 billion and it will take 10 years to complete.
But opposition parties have said the government has overstated the cost.
Labor says the NBN has already cost taxpayers more than $2 trillion, and the Opposition says the report makes the cost estimates sound like they are accurate.
Here’s what you need now.
The cost of upgrading to FTTN: The Commonwealth Bank report says the current rollout cost $1,919 million per year to operate.
Labor estimates the current cost is $2,856 million per annum.
Opposition says there is more than enough to complete the NBN by 2022, but says Labor is using a misleading cost-benefit approach.
A quick look at the NBN’s costs: The Australian Competition and Consumer Commission has released a new cost-per-metre (cPM) report.
The document shows the current network is $1 billion over budget, but the government says it has spent $2billion on the network.
The CCC says the government will only spend $3.5billion of its own money on the NBN.
The Labor opposition has claimed the cost will be $1 trillion by 2022.
The Government says it will complete the rollout by 2022: The Government has announced it will finish its rollout by the end of this year.
The Turnbull Government says the network is now up and running.
The network is running on “a rolling basis”.
It says the project is a success, with “no significant operational issues or technical issues” that have delayed the project. 3 p.p.m.