CPSU National Secretary Stephen Jones today welcomed the ALP’s $4.7 billion broadband plan and Kevin Rudd’s guarantee to cover future public service superannuation liabilities.
A future Labor government would finance it through the $2 billion Communications Fund and the Future Fund's 17% stake in Telstra.
The plan also includes a similar investment from a company such as Telstra or Optus, bringing the total outlay to around $8 billion.
It would connect 98% of Australians at more than 40 times present speeds.
"This will help build and strengthen the economy and create employment throughout the country," said Mr Jones.
"For far too long Australia has lagged behind other developed countries in bandwidth. The ALP's plan to build a high-speed network will redress this imbalance and help ensure economic prosperity long beyond the resources boom.
"This is the sort of forward thinking plan that has been sorely lacking from government. And, as high users of information technology services both at work and home, CPSU members will greatly benefit from this plan," said Mr Jones.
Mr Jones also welcomed Kevin Rudd's guarantee that the retirement provisions for public servants are fully protected.
"The CPSU is satisfied that public service superannuation liabilities will be fully met under the Future Fund and that the money invested in the broadband plan will benefit the whole country and economy. This is a plan with nation building at its core. It should be supported by all sides of politics," said Mr Jones.
More information: Public super 'covered' in $4.7bn broadband plan from The Australian.
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A future Labor government would finance it through the $2 billion Communications Fund and the Future Fund's 17% stake in Telstra.
The plan also includes a similar investment from a company such as Telstra or Optus, bringing the total outlay to around $8 billion.
It would connect 98% of Australians at more than 40 times present speeds.
"This will help build and strengthen the economy and create employment throughout the country," said Mr Jones.
"For far too long Australia has lagged behind other developed countries in bandwidth. The ALP's plan to build a high-speed network will redress this imbalance and help ensure economic prosperity long beyond the resources boom.
"This is the sort of forward thinking plan that has been sorely lacking from government. And, as high users of information technology services both at work and home, CPSU members will greatly benefit from this plan," said Mr Jones.
Mr Jones also welcomed Kevin Rudd's guarantee that the retirement provisions for public servants are fully protected.
"The CPSU is satisfied that public service superannuation liabilities will be fully met under the Future Fund and that the money invested in the broadband plan will benefit the whole country and economy. This is a plan with nation building at its core. It should be supported by all sides of politics," said Mr Jones.
More information: Public super 'covered' in $4.7bn broadband plan from The Australian.
Click below to have your say.
25 comments:
I would not be too confident that public service superannuation liabilities will be fully funded. We need more information how this will be costed and safeguards put in place to ensure nothing goes wrong for future liabilities.
Yes, it is a legitimate use of the “future Fund” which, incidentally, comprises revenue from sources other than those whom the government claims the Opposition would be putting at risk, apart from which, it is an investment with a guaranteed return, and a share in an ongoing asset. Such an investment cannot be compared with the present Government’s continued cynical approach to non-value “tax cuts” prior to each election, but, unfortunately, too many Australians fall for it each time.
Not to mention it, but, who was it that introduced super guarantee, anyway, without which, the superannuation industry wouldn’t be as flush with funds as it is, and many people would have no super at all?
I think Kevin Rudd should leave the Future Fund alone. It's not HIS money to play with. He is being arrogant if he thinks it is.
A super broadband is the responsibility of the private sector….they are in business (the Telco's) to develop that for their own (and ours - which we'll pay for!) businesses for the future. They'll do it because they know they won't survive unless they do. We the public can wait….
Rudd is starting to big note himself like Bracks in Victoria…..a silly thing to do. He'll pay for that if it continues.
He should stick to fundamental politics like trying to assure everyone that his Cabinet is more capable of looking after the interests, wellbeing and welfare of Aussies than Howard's. Health, Employment, Welfare, Education, Economy and the like.
He's riding along on polls at the moment. His popularity is based on some tough (and somewhat unpopular) decisions that the Howard Government has had to make. If you start to read your own Press, you will come unstuck very quickly. Remember Mr Latham???
I think it’s a great idea as it will make this great big country become closer together in many different ways.
Well done Kevin Rudd. Keep it going. We need a fresh, innovative and enthusiastic leader now, more so than ever before. Can’t wait to see you sworn in on TV as our new PM.
D'oh, Mr Rudd - what a wasted opportunity. I'd rather see the $4.7b spent on securing SE Australia's water supplies, or creating alternative fuels, or updating our dilapidated public transport/education/public health systems.
Just in response to CPSU 'welcoming' Rudd's broadband plan, before you pass opinion I think you need to ask us (those CPSU members whose hard earned superannuation money will be used to pay for the plan) whether its a good idea. I can think of several State and Federal government plans in the past that have severely wasted employees superannuation savings. So before 'welcoming' any plan some politician has to spend our retirement money, please give it some very careful consideration.
Bloody brilliant idea!!!!!!!!!!!!!!!!
Lets get rid of the garden gnome first.
I am concerned that the CPSU has fully embraced the Opposition's plan to use the Future Fund to prop up their election promise to provide high speed broadband. It would be preferable that the CPSU consider this proposal cautiously. As we all know, election promises are only as good as the people making them, and there is no obligation to fulfil the promise that Public Service Superannuation is 'covered'. It would be give more confidence to workers if this promise for protection, was enshrined in legislation.
The workers of this country have already been targetted with the new IR laws, and using our hard fought superannuation or the risk of it being used, is not acceptable.
As the the upgrade of bradband in Australia - where is private enterprise in this? All too often we hear that the government has core business of governing this country, and there are commercial areas in which it should not be. Telstra is being sold off, and there are now other communications companies in Australia - why should the government provide over $4b for this effort? Already private companies are receiving tax breaks and other government incentives to provide work for Australians, and they are still making huge profits - when is enough, enough?
Public Service Superannuation is sacred.
Great. Fantastic idea.
Broadband networks are not the answer. With a population as de-centralised as Australia is, with remote country towns dotted across the country, a satellite network is what is required. According to this report released by the Federal Government, they stated what is common knowledge in most computer services; broadband networks are not a cost effective way to provide Australians with high-speed internet connections.
I'm all for it !!!!!!, each day my family and I have to rely on dial up at home (which is only 40 km's from the centre of Darwin), that's if we can connected, even when we do connect, sometimes it not for long (line drops out). This makes it very hard for my daughter to complete some of her homework.
Telstra want $180.00 a month just for a satellite dish (this is our only option as broadband is not in our area due to the lack of people!). Even the satellite is not guaranteed during our "Tropical Season".
So Mr Rudd you and your team have my full support !!!!
Cheers, here's to broadband
ALP's broadband policy: I'd love to see the ALP's research that justifies this type of expenditure on the basis of real future prosperity outcomes. I would like to know that this investment can be justified as a higher priority than: improved cancer treatment facilities, new equipment and support services; research and development investment in new greenhouse positive energy products; improved mental health/psychiatric facilities; post prisoner-release support programs ... and the list goes on and on and on... It's fine to be seen to be looking to the future and I'm sure it'll win some votes, but what about people who desperately need our help but aren't getting it? What about people who are dying and suffering because we don't offer the proper level of services and support? Surely the ALP can win an election intelligently through a brilliant social and economic agenda, not just through vote-focused expenditure initiatives. With the development of G3 and the coming of more advanced technologies, broadband is becoming obsolete for many application that the ALP is suggesting it can be used for. Perhaps a quick look at the potential of broadband and how it can be applied to social and real economic outcomes might be a more clever way to sell this initiative. Don't get me wrong, Howard's immorality sickens me ... but that's not an excuse for laxy policy development by the ALP.
Good idea
Fully agree with kevin rudd's plan.
For too long Telra's assets have been allowed to decline & not kept up to date. It has suffered because of government plans to sell it, and as a consequence services & assets have allowed to be degraded
This is GREAT News - It should boost our collective effectiveness and truly put us on the road to a Knowledge nation.
Big Thanks... (:- } )
I agree with the goal of improving the broadband network, but I think the method is left wanting.
1) The government SHOULD NOT be raiding and spending the superannuation assets of employees, surely this is a no-brainer!!
2) A much cheaper method would be to fix the regulation issue, ie, the ACCC! If you remember, Telstra actually announced (2005 or 2006? I can't remember exactly) that it would build a fibre to the node (FTTN) network, but then canned it because of the regulatory constraints. If the regulatory environment was fixed, Telstra would build it with no money at all from government!
Note: I am a Telstra employee.
This is a good plan, we can't rely on Telstra to do anything. They have had years to work it out. Since partial privitisation their Research & Development was scrapped and they are seriously lagging behind in service delivery let alone something as ambitious as this.
I am outraged that the Labor Party intends to take money from the Future Fund for any reason. It is not their plaything.
I never thought that I would vote for the Govt. at the next Federal election, but this has definitely meant my husband and I can't vote for Labor.
I think the CPSU should put its members' interest first, and not be dazzled by rhetoric.
I have always been concerned that some Superannuation Funds will fail in the decades ahead either due to mismanagement or fraud. I never thougth the Future Fund would be at risk.
I don't accept that it is financially sound, especially when David Murray who is responsible for the Fund expresses his doubts.
Let Labor find private or loan funds from elsewhere. Don't threaten my retirement which I have saved for, for over 40 years, always believing that my employer's contribution (i.e. the Future Fund) would be safe.
Suddenly I feel worried about Labour's financial credentials. The establishment of the future fund - to lessen the reliance on taxpayers having to foot our super payments - was about the smartest thing done in politics in the last decade (or more). To suggest raiding the bicky barrell at this early stage doesn't bode well for the future. I am even more nervous when I read that "FEDERAL Labor will dip into the Future Fund to pay for infrastructure projects, as long as they are money-making ventures, opposition treasury spokesman Wayne Swan says." And for those looking forward to increased band speeds at home - don't forget that you will still be charged mega-bucks for the service. If this is an important requirement for industry and commerce then let them pay for it.
Kevin Rudd’s announcement of Labour’s plan to spend $4.7b from the Future Fund to establish a broadband super highway is great news. Surely this kind of investment in our future is what most Australian’s expect of our Governments. Use the Future Fund for our future. Go Kevin!!
What choice does labour have? Howard will spend all the surplus in the next budget and leave nothing for Labour to fund their election promises.
John Howard and the Coalition have lost the plot when it comes to developing infrastructure. All he & Costello know about is tax cuts and don’t understand the need to invest in our future.
The Future fund money belongs to all Australians not just Fat Cat's and investing a small part of the Fund money in future technology is what has to be done to keep technology at the forefront of Australian technological advancement. Howard & his Liberals are out of step with the future - they have taken us back to the 18 hundreds in every way. Look forward to the new Prime Minister from November 07 = Kevin Rudd !! W.Horn CPSU member and proud of it !
Rudd's plan sounds good- it will be good to see the detail though. For too long Howard has played short term politics rather then invest anything in the future- infrastructure, health and global warning are a few examples.
However I am suprised that individuals think their individual super is at risk. Before the future fund existed the federal government was obliged to honour it's superannuation commitments, nothing has changed there as far as I can see.
Kevin Rudd is undoubtedly sincere with his guarantee of funding for future Super liabilities. But a future conservative government might take the view that the Future Fund was put aside for this purpose and that if it gets blown they will not feel obliged to refinance it. If the managers of the Future Fund think that Broadband is a good investment for a small part of their portfolio then that's fine, but the Future Fund should be investing in a wide variety of carefully chosen investments, not something forced on them by politicians.
Hands off!!
Kevin Rudd's plan is hot air. It is a shame that he is so silly to think that if he wins the next election he will be the prime minister. It is clear that Julia Gillard will take that role pretty quickly and her priorities are not the same as Kevin Rudd's.
But by that time, the money will have been taken from the future fund and will probably be sopent on other labor govt initatives. An election promise is only as good as the person giving it.
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