Australia to invest £21 billion in broadband

A £21 billion investment package into broadband internet infrastructure has been announced by the Australian government as part of an effort to improve network access in the country.

Australian prime minister Kevin Rudd has revealed that a state-owned company will be created to develop and roll-out the network

He pointed out that this will be "the single largest nation-building infrastructure project in Australian history".

Under the plans, the new network is hoped to deliver broadband of speeds up to 100Mbps for 90 per cent of Australian homes, businesses and schools within the next eight years.

Mr Rudd said: "Just as railway tracks laid out the future of the 19th century and electricity grids the future of the 20th century, so broadband represents the core infrastructure of the 21st century.

"Slow broadband is holding our national economy back."

In related news, Japanese internet service provider J:com has launched the world's fastest consumer broadband service at 160Mbps.