Superfast broadband roll-out creates £9bn business boost

FASTER broadband has driven a £9 billion increase in turnover for businesses, according to new figures.

The boost has come from the roll-out of superfast broadband, which the Department for Digital, Culture, Media and Sport (DCMS) confirmed has now reached almost five million homes and businesses.

Margot James, the digital minister, said an independent assessment of the roll-out showed the benefit to local businesses.

“We are reaching thousands more homes and businesses every week, that can now reap the clear and tangible benefits that superfast broadband provides. We are helping to ensure the downfall of the digital divide,” she said.

Ms James said the target was to ensure everyone in the UK has access to fast and affordable broadband by 2020 and there should be nationwide gigabit connectivity by 2033. Currently, the highest coverage rate is in North East England (97.19 per cent), followed by South East England (97.07 per cent) and the West Midlands (96.56 per cent).

The lowest coverage level is in Northern Ireland (87.74 per cent), followed by South West England (93.34 per cent) and Scotland (93.53 per cent).

Clive Selley, Openreach chief executive, said the superfast broadband rollout was one of the country’s great engineering achievements.

“It is great to see businesses across the UK reaping the benefits of faster broadband speeds,” he said.

The Evaluation of the Economic Impact and Public Value of the Superfast Broadband Programme report said for every £1 invested in superfast broadband, business had seen a £12.28 benefit.

The report, covering the period 2012-2016, also claimed the roll-out had lead to a reduction of almost 9,000 jobseekers allowance claims and the creation of 49,000 local jobs.