Posted on
More from News
The rollout of gigabit-capable full fibre broadband to all homes and businesses throughout the UK by 2025 could improve the country's economy by as much as £60 billion, a new analysis has claimed.
A study conducted by the Centre for Economics and Business Research on behalf of infrastructure provider Openreach found the technology would unlock smarter, more efficient ways of working, improve public services and open up opportunities for a new generation of home-grown businesses.
Prime minister Boris Johnson has called for nationwide coverage of full fibre broadband by the end of 2025 - eight years sooner than previous goals. But this has been noted to be a highly ambitious target that will require significant support, both in financial terms and in the form of friendlier regulations governing connectivity deployments.
The new research shows, however, the potential benefits that could be seen were it to be achieved.
For example, the report estimated enhanced connectivity could bring as many as half a million people back into the workforce, while also allowing up to 400,000 people to work from home, giving them more choice in where they live and how they work.
As part of this, some 270,000 people could be freed to move out of cities in rural areas – helping stimulate regional and rural economic growth in these locations.
Chief executive of Openreach Clive Selley said full fibre can be a vehicle to "turbocharge our economy post-Brexit", but this can only be achieved if the right conditions are in place to support these rollouts.
He added: "With the right policies and regulation, we can build a better, more reliable broadband network faster than any other country in the world and unlock the benefits for the whole UK. If that doesn’t happen, then many people will be locked out of a more connected future and the UK could lose its status as a global digital leader."
The development of a full fibre broadband network is the second-largest infrastructure project in the UK and will require a physical build to more than 30 million homes and businesses, from urban flats and terraces to remote crofts.
The National Infrastructure Commission has estimated the cost of this to be £33.4 billion, with the majority of this coming from private investment.
