I wrote a letter to The Age newspaper this morning.
Mr Rudd wants to use $2.7 billion of the Future Fund to help build a
national broadband network. Peter Costello immediately calls it "A
shabby little deal" and "economic vandalism'
My first thoughts were what a wonderful use for the future fund.
You couldn't get something more focused on the future than a high
speed Internet broadband network. Set up properly it should give very good returns to the
investors which I imagine the Rudd government will be one of. Instead
of seeing it as a "shabby little deal" or "economic vandalism" It
should be seen as a sensible use of our assets i.e. the sale of
The future fund was always a bit of lame duck. This sort of innovative
relatively safe investment, is an ideal way of using it. In ten to
fifteen years time it may be viewed like the purchase of 'Blue Poles'
by Gough Whitlam. Criticised at the time, but heh what investment that
turned out to be.
The Howard Government has had 10 years of unprecedented growth and
prosperity with the added bonus of GST revenue, and we are way behind
in Internet speed and technology.
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