[AusNOG] News: Minister Conroy contemplating Government-Funded undersea cable?

[Mark Newton]

On 30/09/2012, at 1:13 AM, Kai <vk6ksj at westnet.com.au> wrote:

> Outback Qld goes it alone for high-speed internet
> http://www.abc.net.au/news/2012-09-29/outback-qld-goes-it-alone-for-high-speed-internet/4287308

For the last four years, one of the prongs of the coalition's attack on the NBN
has been on spending grounds: "$50b of spending when we're already in debt!" they
say.

Then earlier this year even Malcolm Turnbull acknowledged that that isn't actually
going to happen, because the NBN is a capital investment (which will earn a
commercial return) rather than expenditure.  The Government isn't spending money on
building a network, they're buying shares in a company and expecting a return
above the bond rate, until 5 years after the network is built, at which point they'll
get their capital back.

I'm in debt:  I have a house to pay off.  The fact that I owe money to someone doesn't
mean I can't choose to invest elsewhere while the debt is being paid off.  Same goes
for the government.

Anyway, now that the coalition has finally acknowledged that the NBN is an investment
rather than a debt, these councils want a $16m handout from the government (expenditure,
not debt)

Sometimes I truly believe that the quality of our national debates would be better
if schoolchildren were taught what money is and where it comes from.

  - mark