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Superfast broadband 'boosts UK business by £9bn'

Posted on Aug 23, 2018.

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The government says thousands of firms are now reaping the financial benefit of faster connectivity.

New figures show that superfast broadband has driven a surge of £9bn in turnover for businesses.

Superfast broadband is more accessible than ever before. Around 10 million businesses and households have now upgraded to superfast broadband with speeds of 24 megabits per second or higher.

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According to the Department for Culture, Media and Sport (DCMS) this is a move that delivered a £12.28 benefit for firms for every £1 invested by central and local authorities.

The rollout itself has additionally led to a reduction of almost 9,000 jobseekers allowance claims as well as the creation of 49,000 local jobs.

Digital Minister Margot James said that the target 2020 was the target to ensure fast and affordable broadband was available to all.

It is the goal of the UK government that by 2033 all of the UK will move away completely from broadband delivered on copper networks and will instead switch to fibre broadband.

Openreach chief executive Clive Selley told the BBC “Superfast broadband rollout was a great engineering achievement.”

"It is great to see businesses across the UK reaping the benefits of faster broadband speeds," he said.

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