The Wire

Prime Minister Kevin Rudd has announced the governement will scrap the tendering process for construction of a national broadband network. Instead, Rudd has proposed to form a public company in order to build the network. The construction will cost the government upwards of $43 billion over an eight year period after which point they will sell their company shares to private investors. The Network will give 90 per cent of Australian homes, businesses and schools access to Internet 100 times what is available now.