Autumn Statement to Announce The Allotment of £1bn For Faster Broadband


Autumn Statement Allotment of 1bn for Faster Broadband

In a move to pace up the broadband networks in the UK, the government will be deploying £1bn, which would give a thrust of higher speeds to around 2 million UK homes and businesses. This would be offered as an infrastructure plan in the autumn statement to be declared on Wednesday. Phillip Hammond, the chancellor announced this in response to the ever increasing demand of the digital economy and constant prompting by the people of the UK.

The chancellor will support a £400m digital infrastructure fund and keep it to be matched by the private sector investors. He would be offering local authorities to bid for the £740m fund to check the 5G mobile networks.

The government plans to link these networks with fibre-optic systems for improving wireless capacity of the country. This was announced just after the government declared £1.3bn for road networks and £2bn for research and development in the field of science.

The government has not decided any date for the launch of the 5G service as of now. The chancellor is concerned about the UK’s low ranking as far as the installation of the latest fibre optic network is concerned. Due to this the country has poor broadband networks and speeds which cannot download large files.

According to a reliable source, The Treasury intends that businesses of the UK should be “well placed to exploit the opportunities arising from 5G and future digital services.” It wants the smaller broadband operators to utilise the digital infrastructure.

As fibre optics cable is more reliable than age-old copper wire networks and it is also gives instant access to the web. The chancellor would announce that the project would continue till 2021 and the funding may get extended to £1.5bn if we consider the private sector funds.

This is very good news as Britain has one of the best digital networks when compared with other developed countries and so, this move will make things easier for the internet users.

For more of such news and updates about broadband services, check our website https://freepricecompare.com/broadband/. You can also leverage the best of TV, telephone and broadband deals from our website. We offer impartial comparison between various broadband suppliers in the UK. If you want to know about the latest deals then you can call our responsive team of broadband experts on 02034757476.

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