Minchin, who spent five years overlooking Telstra and the ensuing T3 sales, said the then Howard government and Labor opposition are responsible for the poor handling of the privatisation of Telstra.

“All government's make mistakes — we were up against a Labor senate — but I regret the antagonism between Telstra and the [Howard] government,” he said.

“It set back the development of telecommunications in Australia.”

He told separation lobbyists he stands by his views that Telstra should not be split, and labelled the NBN as “populous and scant in detail”.

While he conceded that both parties are “committed to reliable and cost effective” broadband network, Minchin said the venture does not require taxpayer funds. He said he is “suspicious” of private ventures funded by tax payers.