£9 billion superfast broadband boost in UKStaff Writer | August 20, 2018
Local businesses in areas covered by the UK government’s rollout of superfast broadband have seen a combined £9 billion increase in turnover since the boost to their broadband speed, new figures have revealed.
Britain Around 5m homes and businesses stuck in the slow lane now have broadband
Key findings from the report include:
- £9 billion surge in turnover for businesses benefitting from the faster connections now available
- £690 million net increase in Gross Value Added to the UK economy
- A reduction of almost 9000 individuals claiming jobseekers allowance, as well as a reduction in long term claimants by 2,500 in programme areas, accompanied by the creation of 49,000 local jobs
- Programme has delivered £12.28 benefit for businesses for every £1 invested by the Government and local authorities
- Strong indication that high take up rates of Government’s superfast programme have encouraged telecommunications industry to expand their own commercial broadband projects.
New figures also show that around 5 million homes and businesses who would have been stuck in the digital slow lane now have access to superfast broadband.
The government’s rollout of superfast broadband to those areas deemed “commercially un-viable” has helped take nationwide coverage to 95.39%.
Take-up of the new technology in areas benefiting from the Government programme is now running at 45% - more than double the expected rate.
As a result of the contracts put in place by Government, those companies rolling out superfast broadband will now return more than £500 million in subsidies to the public purse to be used to reach those locations not yet covered by existing plans.
It is estimated that more than 1 million extra UK homes and businesses will gain access to superfast speeds, taking superfast coverage to 98% of the nation over the next few years.
Government is introducing a Universal Service Obligation that will mean everyone in the UK has access to fast and affordable broadband by 2020, and has recently set out plans to deliver nationwide gigabit capable (1000Mbps) connectivity by 2033 as part of its modern industrial strategy. ■