Capital measures
Communications, Information Technology and the Arts
Communications Fund to future proof telecommunications services in regional, rural and remote Australia
| 2005-06 | 2006-07 | 2007-08 | 2008-09 | |
|---|---|---|---|---|
| Department of Communications, Information Technology and the Arts | - | - | - | - |
The Government has established a $2 billion Communications Fund. The $2 billion has been invested in a term deposit with the Reserve Bank of Australia in the short term, while a detailed investment framework is developed and agreed by the Government.
Income earned from the Communications Fund will be used to implement the Australian Government’s responses to recommendations made by the Regional Telecommunications Independent Review Committee on the adequacy of telecommunications services in regional, rural and remote Australia. The first review will commence in 2008, with the time between subsequent reviews being no more than three and a half years.
As the establishment of the fund affects only the composition of the Australian Government’s financial assets, there is no impact on the fiscal balance.
Further information can be found in the press release of 23 September 2005 issued by the Minister for Communications, Information Technology and the Arts.