What does this mean for North Lakes?

http://money.ninemsn.com.au/article.aspx?id=1073357

Telstra reaches national broadband deal
20/06/2010 2:19:36 PM
The federal government and Telstra have struck a deal for the giant telco's participation in the planned National Broadband Network.

The $11 billion deal was announced in Canberra on Sunday by Prime Minister Kevin Rudd and Telstra CEO David Thodey.

NBN Co, the government-owned company rolling out the network, will have access to Telstra's infrastructure under the deal.

The government had been seeking a commercial arrangement with Telstra to avoid the need for a duplication of infrastructure for the national rollout of its $43 billion broadband network.

Under the deal, NBN Co will have access to Telstra's network of pits, ducts and wires.

The agreement paved the way for a faster, cheaper, more efficient rollout of the national broadband network, with faster take-up, Mr Rudd said in a joint statement with Communications Minister Stephen Conroy and Finance Minister Lindsay Tanner.

Telstra will migrate its customers from its existing copper and pay-TV cable networks to the NBN network.

The government says the deal will reduce the overall cost of building the network.

It will also result in higher take-up rates and revenue.

The deal means a greater proportion of the NBN network will be underground, with less need for overhead cabling than initially planned.

The deal delivers Telstra a post-tax net present value of about $11 billion.

Under the deal, the government will establish a new entity - USO Co - to assume responsibility for most of Telstra's universal service obligations for the delivery of standard telephone services, payphones and emergency call handling from July 1, 2012.

The government will also provide $100 million to Telstra to assist in the retraining and redeployment of staff affected by the changes.

NBN Co will become the wholesale supplier of last resort for fibre connections in greenfield developments from January 1, 2011.

Mr Rudd said the national broadband network was an "important national purpose".

"In the last month or two the two sides have got closer," he told reporters in Canberra.

Senator Conroy described talks between the government and Telstra as "tough negotiations".

I think it is a rudd-off, not going to happen soon at North Lakes, may be 50 years!

Well its either that or vote liberals in and they will totally scrap the National Broadband deal leaving us back at square 1. Least with this there is hope for people of North Lakes who want decent speed internet....