Although the metrics that define the global standard for the 5G network are yet to be set, it promises to beat its predecessor by offering faster speeds and lower latency — a shorter time interval between sending and receiving data.

While technology already works in a laboratory environment, there have been doubts over just how well it will perform in the real world.

Verizon and Ericsson recently decided to test the 5G network on a moving target — a car being driven around a racetrack — and were able to record a 6.4gb/s connection.

To put this into perspective, the NBN is capable or delivering speeds up to 100mb/s, which means the 5G network is more than 60 times faster.

I’ve said it a few months ago, and I have been saying it ever since the previous Labor government first proposed this dinosaur years ago and continued saying so after the current Liberal government decided to adopt the beast as its own: the National Broadband Network is a travesty of government waste – a gigantic piece of infrastructure that will be obsolete before it’s even finished. And all at a cool price tag of $50 billion or more.

The government has been trying to argue there is good debt and bad debt; the former involving borrowing money to invest in vital infrastructure, while the latter, I imagine, involving borrowing to meet recurrent expenditure obligations. But judging by the bipartisan embrace of the NBN, our governments wouldn’t know what a good infrastructure investment is if it turkey slapped them on the face.

The taxpayers will end up paying three times – for the rollout of the project, for the compulsory and overpriced access, and finally, when G5 arrives commercially, for access to a wireless mobile network that will allow them to download a movie sixty times faster than their home computer. Thank you, government.