Telstra chairman John Mullen has claimed all Australians would have access to high-speed internet at a "fraction of the cost" if the government had not proceeded with the $50 billion National Broadband Network project.

Mr Mullen admitted to shareholders at Telstra's annual general meeting on Tuesday that the country's biggest telecommunications company should bear some of the blame due to its "recalcitrance in helping the government at the time".

Telstra chairman John Mullen. Credit:Nick Moir

"The creation of the NBN 10 years ago has had a seminal effect on our industry and Australia," Mr Mullen said.

"It is always easier to comment with the benefit of hindsight, but it is my view that over the last 10 years private sector competition between strong players such as Telstra, Optus, TPG and others was always going to build 100 Mbps broadband access and speed to the majority of the population of Australia, in an ongoing competitive landscape and at no cost whatsoever to the taxpayer," he said.