In what he's calling "the single biggest infrastructure decision" in the country's history," Australia Prime Minister Kevin Rudd's announced an A$43 billion (US $30.6 billion) project to create a nationwide high speed broadband network. The goal's to get 90 percent of homes and business up to 100Mbps speeds with fiber optic connection, with a less impressive 12Mbps wireless / satellite for the rest. Up to 49 percent of the funds will be from the private sector; the government will initially invest A$4.7b, while A$20b will come from a national infrastructure fund and the sale of bonds. The venture's expected to take seven to eight years, and Rudd said the government intends to sell off its stake after five years. Sure, it's not 1Gbps by 2012, but hey, they might end up beating us at the "nationwide broadband" game.

[Thanks to everyone who sent this in]

Read - Sydney Morning Herald
Read - Reuters

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