The bill amends the National Broadband Network Companies Act 2011 to legislatively affirm the policy that NBN Co should remain wholly owned by the Commonwealth. This is achieved by removing provisions that facilitate the privatisation of NBN Co, including the repeal of sections 47 to 75 and sections 77 to 85, which set conditions for private ownership. A new section, 43A, is inserted to state Parliament's intention that the NBN remains operated by NBN Co and wholly owned by the Commonwealth. Additionally, two minor consequential amendments are made to the Telecommunications Act 1997. The bill is designed to provide certainty for investment planning and operational decision-making, ensuring the economic and social benefits of the NBN are maximized. The amendments are primarily mechanical and do not alter the operations or governance of NBN Co, nor do they affect the Australian Competition and Consumer Commission's oversight.
From the explanatory memo: "The amendments proposed by the Bill are largely mechanical in nature and do not change the operations of the NBN or the governance of NBN Co."
The bill should be supported because maintaining NBN Co in public ownership ensures that the broadband network remains a reliable and universally accessible infrastructure, which is crucial for fostering an informed and engaged citizenry [Judgment]. Public ownership can help prevent monopolistic practices, ensuring fair pricing and access for all Australians, which is aligned with egalitarian values. Moreover, keeping such a critical infrastructure in public hands enhances national prestige and sovereignty, as it protects against foreign influence and ensures that the network serves the public interest rather than private profits.
The bill should be opposed because it restricts the potential for private investment that could bring innovation and efficiency to NBN Co. The market-driven approach could incentivize improvements in service quality and infrastructure development, which might be stifled under public ownership [Judgment]. Furthermore, the ongoing financial support required from the government could be a drain on public resources that might be better allocated elsewhere. Finally, the commitment to public ownership may limit flexibility for future governments to adapt to changing technological and market conditions.
2024-10-09
Passed Both Houses
Unspecified
Infrastructure, Transport, Regional Development, Communications and the Arts
Infrastructure, Telecommunications, Government Policy