When Governments are Experts they are wrong how can you expect them to do anything other than screw everything up. (ODT)

But Minister for Finance, Mathias Cormann rejected S&Ps analysis. He said in a statement that the government was not considering a write-down of the NBN and remained confident it would reach its take-up forecasts.

“We remain confident that the federal government’s equity contribution to NBN will continue to be treated as equity and not a grant,” he said.

NBN write-down ‘appears inevitable’: S&P