Tony Abbott and Joe Hockey have today continued to mislead the Australian people by claiming the Federal Government could cancel spending on the National Broadband Network and redirect those funds to the Queensland flood effort.
This claim by the Opposition is misleading.
Cutting investment in the National Broadband Network would not allow for additional recurrent funding into the Queensland flood effort.
The National Broadband Network is an investment, on which Australians will get a return. It is not funding that can be cancelled and used for recurrent expenditure.
Investment in the National Broadband Network does not affect our net debt or affect the level of deficit or surplus, because it is an asset that will generate income over time. Therefore it does not have an impact on our ability to assist in Queensland.
The National Broadband Network is a significant long-term reform for this country, allowing Australians to access affordable, high-speed broadband regardless of where they live. It is a reform that will increase economic growth and productivity across the Australian economy. It will drive jobs growth, and help communities including regional Queensland communities hit by flooding to access economic opportunities.
It is unfortunate that Mr Abbott is choosing to do what he always does, to oppose.
This is a time for all Australians to work together to rebuild Queensland, not a time for politics.
The Government is committed to assisting Queenslanders with the significant cost of rebuilding following the recent floods, and to bringing the budget to surplus in 2012-13.
This will be a substantial task requiring tough decisions. We will continue to engage with the Australian people about this task in the coming weeks and months.