Tony Abbott continues to wrongly claim that the Federal Government could cancel spending on the National Broadband Network and redirect those funds to the Queensland flood effort.
Mr Abbott said today: Theres about $8 billion that the Government is going to have to budget in coming years for the National Broadband Network, so theres no shortage of money in the budget.
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 Government has announced $2.8 billion in spending cuts, $1 billion in delays in infrastructure projects and $1.8 billion through a progressive levy on people earning over $50,000 to fund the recovery and reconstruction effort in Queensland.
We know 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.
We know 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.
This is a time for all Australians to work together to rebuild Queensland, not a time for politics. We know Mr Abbott has long been opposed to the National Broadband Network, but this is not a time to fight old battles.