NBN costs blow out by $29bn

By James Hutchinson and Joanna Heath
Updated December 12 2013 - 12:18pm, first published 12:17pm

A $29 billion blow-out in the funding needed to complete the original national broadband network has forced Communications Minister Malcolm Turnbull to abandon election promises, admitting the company would no longer be able to finish the first stage of the network by 2016.

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