Posted in: Tattle, Technology

NBN blames pandemic for $6.7bn funding blowout as execs rake in bonuses

The company says it requires an extra $600m in funding for 300,000 premises that were not factored into original plans

NBN Co has blamed the Covid-19 pandemic in part for a $6.7bn blowout in funding, as executives raked in almost $3m in bonuses last financial year for “significantly” overachieving targets.

At the start of the Covid-19 pandemic, when office workers and school children were sent home to work and study, NBN Co moved to cushion the boom in demand for capacity on the NBN network by offering an additional 40% broadband capacity to retailers for free.

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