Government to fund broadband infrastructure improvements
Up to £800 million could be invested in the UK’s broadband infrastructure, the Chancellor is expected to announce in Wednesday’s Autumn Statement.
Philip Hammond will pledge £400m towards a new Digital Infrastructure Investment Fund with private investors expected to match that amount.
The cash will use used to assist the expansion of fibre broadband directly to properties, rather than just the roadside.
Government figures show that only two per cent of the UK has full-fibre access, as it is known, with download speeds of up to one gigabit (1,000 megabits) per second.
The average internet connection in the UK is just 28.9 Mbps, according to Ofcom.
Hammond will also offer local authorities the chance to bid for a slice of a £740m fund to trial superfast 5G mobile networks, according to a source quoted by the Guardian.
The Government has already pledged an extra £2bn for science and R&D spending.
Facebook recently announced that it will boost its staff numbers in the UK by 50 per cent with the hire of 500 people next year.
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