A Labor government would return two million Australian homes and business to fibre-to-the-premises technology and phase out fibre-to-the-node under its $57 billion national broadband network.

Opposition leader Bill Shorten today said his party would not increase the government's equity cap of $29.5 billion, but would cap the total funding of the project - the remainer of which is to come from the private sector - at $57 billion.

NBN Co revealed last August that its construction costs would blow out past the expected $41 billion price tag to between $46 billion and $56 billion.