The federal government is convinced its move to ban the privatisation of the NBN Co is a potent new weapon to discourage middle-of-the road voters from straying back to the Coalition at the next election.

Questions for Labor include how many voters actually care who owns the broadband network?

Does it inspire the same kind of protective instinct and pride that Medicare does?

And are there even any buyers out there in the first place prepared to pay a decent price for a capital-thirsty infrastructure giant facing competitive challenges from rival technologies such as 5G and Elon Musk's satellite internet?

Either way, Labor's gambit comes after more than a week of controversy over its handling of the Middle East crisis. Anthony Albanese has been pummelled by the Coalition for being too supportive of the Palestinian cause, while the Greens say he is too pro-Israel.

Into this maelstrom came the news on Wednesday that Labor will introduce legislation to ensure the NBN Co remains in government ownership. Answering a question, as one commentator put it, that nobody asked.

Retaining the NBN is not a new position for the Albanese government. Communications Minister Michelle Rowland announced more than two years ago, about eight weeks after the May 2022 election, that the company would not be privatised on her watch.

There has been no build-up to this announcement. No stories or debates in the money markets about why this could be on the table. It has emerged, it seems, from a void.

What has changed is Labor's need to reclaim control of the political agenda. Over the last few weeks the government has been quietly briefing out a series of media "drops" aimed at capturing the public's attention on the government's preferred narrative: cost of living.

The new strategy follows months of deteriorating polls for Labor, which most political pundits say is headed for minority government after the next election.

Mr Speaker, they shrunk the chip packets

Last week it was a promise to crack down on "shrinkflation". Which is when retailers reduce the size of a product while keeping the price unchanged. (The extent of the "crack down" was requiring supermarkets to disclose this skulduggery more transparently, rather than stop it as such).

This week, the big idea is an NBN law that would ensure the broadband network remains government owned in perpetuity. Or at least until some future parliament or government decides to change the law.

Labor's aim, behind what was immediately derided by critics as a political stunt, is to corner the opposition into opposing the bill.

"We know that the Coalition wants to sell the NBN. Just like they sold Telstra," Rowland declared during Question Time in answer to one of at least five questions from backbenchers to government ministers and the prime minister on the topic.

"The question here is for Peter Dutton; where do you stand, are you going to sell the NBN or do you want to keep it in public hands and back this bill," she said at a separate press conference.

The opposition, Albanese said, "showed their hatred" of the NBN when they opposed Kevin Rudd's 2009 plan to build a fibre optic telecommunications.

"Now, we have introduced legislation in the house today that safeguards the future of the NBN. Making sure that it cannot be privatised, sold off or hired out, because there has never been a public service or asset that the Liberal Party did not want to sell off. That is what they do."

The Coalition hit back, calling it a "sad and pathetic stunt".

"Labor have failed to deliver relief on the cost of living and have resorted to conjuring up distractions," said shadow Communications Minister David Coleman. He added that the Coalition will "consider" the legislation.

Fibre to the node and red meat to the base?

No doubt a fight over the NBN — if it transpires — will resonate among rusted-on Labor supporters. But it also raises a number of questions for other voters.

First-off, what would the sale of the NBN be worth to a future Coalition government, and what would the motivation be?

When pressed at a media conference on Wednesday, Rowland said her department estimated its current market value "at just under $20 billion".

It is not clear how this figure was reached, but it's a good deal less than the federal government's initial $29.5 billion equity stake. That money that was raised as debt and categorised as an "off-budget" investment.

Selling the NBN would effectively crystallise that sunk cost. The government — and taxpayers — would have resolutely done their dough. Most of the debt would remain on the books.

"It's like the idea of selling Medicare, it's not going to happen," said budget economist Chris Richardson. "There's no great political upside there. It's just a scare campaign."