Joint media release
Senator the Hon Mathias Cormann
Minister for Finance
Leader of the Government in the Senate
The Hon Paul Fletcher MP
Minister for Communications, Cyber Safety and the Arts
The Government welcomes today's release of NBN Co's Corporate Plan 2020-23, which confirms the rollout of the National Broadband Network (NBN) remains on schedule and on budget.
The plan shows the NBN is providing fast and affordable broadband to Australians across the country with 11.5 million homes and businesses forecast to be able to order a service by the end of the 2019-20 financial year.
Consumer experience on the network remains a top strategic priority for the company with the plan outlining NBN Co's commitment to improving consumer experience and future product development to meet consumer demand.
The plan also updated the company's future revenue growth forecasts on the back of its strong financial performance in 2018-19, which Finance Minister Mathias Cormann said was being driven by increasing demand for the NBN.
"NBN Co's strong financial performance over the 2018-19 financial year has translated into a revenue target of $3.7 billion in 2019-20, with revenue growth forecast to reach $5.9 billion in 2022-23," Minister Cormann said.
Minister for Communications, Cyber Safety and the Arts Paul Fletcher said: "Thanks to the Liberal-National Government's approach, more than 86% of Australian premises are able to access high speed broadband through Australia's largest infrastructure project.
"With network completion in sight, it's time to focus on how we can best leverage this vital national asset to achieve national economic and social objectives."
As the network powers towards completion, NBN Co is turning its focus to transitioning the company from an infrastructure builder to a full-scale service delivery organisation once the 2020 rollout target is reached.
For more information about the NBN rollout visit: www.nbnco.com.au
