Ultrafast Fibre Broadband Worth £1.2 billion to the economy

£150 million investment in ultrafast fibre broadband ‘worth £1.2 billion to the economy’ a recent study claims.

14:48 07 June 2018

A recent report claims that every £1 invested in ultrafast fibre broadband offers £8 return of investment to the economy over the next 15 years. The report, which was commissioned by BT, said that the investment in ultrafast broadband would help to realise several of the aims set out in the Department for the Economy’s industrial strategy.  

 

Dr Dan Maldoom from DotEcon wrote the report and called for urgent action.

 

"Despite the challenges of broadband delivery in the more rural areas of Northern Ireland, high-speed fibre broadband is vital to economic, environmental and even social wellbeing. This report highlights the potential economic return of the Government's £150m investment in more rural areas.

 

"(It also highlights) other key benefits to communities across Northern Ireland, such as a reduction in carbon emissions, enhanced digital inclusion and wider access to e-health."

 

Prior to the release of the report, the Government has already announced funding of £75million per year over two years to provide ultrafast broadband as part of its supply and confidence deal with the DUP.

 

The Department for the Economy, on the other hand, announced it would begin a consultation with political parties on how to use the £150million.