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High-speed broadband would boost UK's economy, says Virgin

According to Virgin Media, UK's economy would be significantly boosted if high-speed broadband internet was available nation-wide.

As Uswitch writes in a report here, Virgin Media Business published an Oxford Economics research showing how broadband could help boost UK's economy. The report, entitled the UK's £92 billion Digital Opportunity, surveyed more than 1,000 senior executives all over the country as it tried to understand how digital solutions and skills affected the economy.

The survey says 56 per cent of those asked said that ultrafast broadband is a top priority when maintaining business, while 66 per cent said all businesses should adopt these speeds within the next three years.

Having ultra high-speed internet could also create a million new jobs, Virgin adds.

Looking at what the biggest obstacles are, government regulations seem to stand out, with 46 per cent of the executives saying that less interference from the government was needed if the sector was to be successful.

Another 46 per cent called for better education of digital skills in schools and universities.

The government recently had to suspend its voucher scheme offering high-speed broadband internet to small businesses across 22 cities in the country, as the vouchers were snapped up.

The scheme, extended by a year, saw small businesses applying for a £3,000 governent grant which would allow them to have ultra-fast broadband internet.

CityFibre saw this as an opportunity, and started offering free connectivity to busineses.

It is offering businesses free connection to its pure fibre networks in Aberdeen, Coventry, Edinburgh, Huddersfield, Peterborough and York.