THE NBN HAS LOST OVER $12,839,000,000 OVER THE PAST 5 YEARS
And these losses are all paid for by the Australian taxpayer.
But it’s actually much worse than that.
The Government (taxpayers) have tipped in $40 billion in equity, and if the NBN was sold, much of this would havebe written off, especially now the NBN is facing a more efficient competitor in Elon Musk’s Starlink.
That’s why Albanese doesn’t want to sell it, because that would crystallise the loss - adding to the budget bottom line deficit - and it the final accounting on this Labor disaster dreamed up Kevin o’Lemon.
https://nbnco.com.au/content/dam/nbn/documents/about-nbn/reports/financial-reports/nbn-co-annual-report-2024.pdf.coredownload.pdf
And these losses are all paid for by the Australian taxpayer.
But it’s actually much worse than that.
The Government (taxpayers) have tipped in $40 billion in equity, and if the NBN was sold, much of this would havebe written off, especially now the NBN is facing a more efficient competitor in Elon Musk’s Starlink.
That’s why Albanese doesn’t want to sell it, because that would crystallise the loss - adding to the budget bottom line deficit - and it the final accounting on this Labor disaster dreamed up Kevin o’Lemon.
https://nbnco.com.au/content/dam/nbn/documents/about-nbn/reports/financial-reports/nbn-co-annual-report-2024.pdf.coredownload.pdf