UK should be looking to overhaul its internet broadband system to create an all-fiber network that would deliver speeds of up to 100mbps to the businesses and homes.
The cost, was proposed by the BSG (Broadband Stakeholder Group), stands at £16bn but the benefits that are to be reaped from the new technology can bring in even more value.
One reason cited by the report to explain why investments stalled, is the uncertainty looming over the time period that would be involved for providers in recouping their investments.
The government, providers and the regulators need to function together to make sure that the investments are made on time or else UK might miss the chance.
The report makes it clear that a delay in the widespread network deployment might result in the UK losing out so it has to happen within the next three to five years.
The report also said that the investments should in no case be rushed by the temptation of benefits and that the benefits will materialize only when the high-speed networks reach the maximum number of UK homes.