The ACCC market study has delivered a stern warning to Malcolm Turnbull about the deteriorating economics of his second-rate NBN.
Recommendation 5 of the draft market study report notes that:
“In the medium term, and depending on future developments, the Government consider whether NBN Co should continue to be obliged to recover its full cost of investment through its prices.”
The ACCC is the latest to say the NBN might need to be revalued.
It is now an open secret that the promised multi-technology mix is not faster or cheaper – it is slower, more expensive, and is undermining the lived experience of consumers.
The latest Essential Poll highlights the sense of missed opportunity with 54 per cent of Australians saying the NBN is not adequate for the nation’s future needs, and only 23 per cent saying it is.
In an increasingly globalised economy, Australia is being left behind and consumers know it.
To this day, this out of touch Prime Minister still measures his success by the rollout figures contained in the NBN weekly reports.
He fails to acknowledge that Australians wanted world-class broadband and investment in quality infrastructure that would deliver for the long-term.
The multi-technology mix is a living monument to Turnbull’s poor judgement - an abject failure in engineering and economics that was founded on financial manipulations and political miscalculation.
Whatever comes next, Turnbull needs to place consumers, and not his ego, at the centre of decision making.