Turnbull rules-out greater cost recovery for NBN

Turnbull rules-out greater cost recovery for NBNMinister Turnbull’s response to the Vertigan Review indicating that full cost recovery will not be sought from developers for NBN is welcome relief for an industry swimming in charges, red/green tape and tax largess. The Independent Panel reviewing the NBN has recommended shifting the full cost of delivering NBN to developers and buyers.This proposal would add up to a further $4,000 and will put home ownership further out of reach at a time when the country should consider how to improve supply and reduce housing cost. To put this into context, developers paid roughly $0 per lot under the old Telstra copper system. Buyers in new housing estates, predominantly those purchasing their first home, would be slugged to build the system while established suburbs residents will pay a substantially cheaper connection fee. The Residential Development Council will look to ensure these recommendations do not land on new home buyers, or dampen supply of new dwellings which would place upward pressure on prices.