Will a superfast broadband network really help the UK economy?
Over the last few weeks the financial press has been dominated by the Digital Britain report into the U.K.'s broadband network and the potential for change in the future. The report has brought forward a number of improvements to the sector and the legal obligation for broadband providers to ensure that all of the UK has access to video enabled broadband speeds of no less than 2 Mb. However, does the UK economy really need a superfast broadband network?
The UK authorities and regulators have been working on a fibre-optic network for a few years now with the likes of BT central to the eventual implementation of the network. If UK businesses are to compete on a level playing field with their overseas counterparts it is vital that the UK government and businesses work together to ensure this happens as soon as possible. The ability to transfer large packages of data over the Internet is becoming a vital cog in the overall economy of the UK.
However, the introduction of fibre-optic networks throughout the country will take this service to a new level and will eventually see a reduction in the everyday cost of running a UK business. The question of who will pay for this improved service remains to be seen although the government has indicated taxpayer funding will be required which would mean the UK consumer footing the bill yet again.
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