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Joyce: Budget Kick Starts Broadband Investment

Fuseworks Media
Fuseworks Media
Joyce: Budget Kick Starts Broadband Investment

28 May 2009 - Budget 2009 has kick-started the Government's commitment to ultra fast broadband with $290 million of initial implementation funding for the 2009/10 financial year.

The Government has committed up to $1.5 billion for the roll out of ultra fast broadband to businesses, schools, hospitals and 75 per cent of homes over the next 10 years. It is expected that this investment will be at least matched by the private sector.

Budget 2009 allocates the first tranche of that funding, for the 2009/10 financial year, as follows:

$200 million capital for infrastructure investment $34 million for making schools broadband-ready $8 million of operating spending (including $6 million for the Crown Fibre Investment Company)

In addition to the $1.5 billion broadband proposal, rural areas will benefit from a $48 million investment in broadband infrastructure. The details of this investment will be released soon.

The Budget 2009 allocation will allow the broadband investment initiative to be put in place and the build-out to commence, Communications and Information Technology Minister Steven Joyce says.

"Today's Budget announcement provides the platform we need to start delivering the infrastructure that will bring about the step-change in our economy we need to compete."

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