Skip to main content

George Osborne reveals "productivity plan" to fix British economy

Chancellor George Osborne has produced a “productivity plan” to “fix the foundations of the British economy” which includes a Digital Transformation Plan.

According to Osborne, the Digital Transformation Plan will support the adoption of digital technologies across the economy.

The Chancellor has included a “world-class digital infrastructure” in the Fixing the Foundations: Creating a more prosperous nation report; this entails making it easier the market to rollout fixed and mobile infrastructure with proposals to reform planning rules on taller masts.

The UK’s ambition to ensure 95 per cent of home and business premises in the country are equipped with superfast broadband, speeds of at least 24Mbps, by 2017 also falls under the productivity plan.

The document also says that the market will be supported to deliver near universal 46 and ultrafast (at least 100Mbps) broadband coverage.

“The UK’s digital economy is vibrant and growing rapidly. To ensure these benefits are felt through the whole economy the government will publish a Digital Transformation Plan by autumn 2015 that sets out concrete actions the government will take to support the adoption of digital technologies across the economy and the ways in which the government will assist in tackling barriers to new businesses entering and creating new markets,” the report claims.

Keeping the market open

Besides this, Fixing the Foundations claims that the government is continuing its commitment to opening the market to new and alternative providers.

“By reducing the regulatory red tape and barriers to investment, the government will support the market to deliver the internationally competitive fixed and mobile digital communications infrastructure the UK’s businesses needs to thrive and grow, which will enable the UK to remain at the forefront of the digital economy,” it says.

The productivity plan also places an emphasis on high-quality science and innovation and spreading new ideas fast.

The government will be looking for opportunities to develop the UK’s network of Catapult centres for commercialising technology.