According to a recent report upgrading broadband networks in the UK could not only benefit consumers but could also help to boost the economy

A recent report from the Broadband Stakeholder Group has suggested that investing in broadband networks in the UK in order to upgrade them and bring them up to speed with some other countries could not only benefit consumers but could also help to boost the nation’s flagging economy. The report said that by upgrading networks to enable delivery of 100Mbps could give the economy a much needed injection of life.

It is acknowledged in the Broadband Stakeholder Group report that the cost of upgrading networks to allow this delivery will be expensive, with estimates given at around sixteen billion pounds. However, the report goes on to suggest that it would still be worth the investment in the long run.

The report stated: “By looking at the potential private value and the wider economic and social value, the BSG has found that the long-term benefits to the UK associated with the wide-scale deployment could outweigh the cost of deployment, which could be as much as £16bn.”

One official from the Broadband Stakeholder Group, Antony Walker, also said: “Next generation broadband has the potential to transform the way we do things as individuals, businesses and as a nation as a whole… If widespread network deployment didn’t happen in the medium term then this report suggests that the UK could be losing out.” However, he also recently said that it was important not to rush as it needed to be done properly, stating: “We’re talking about a really big change in the industry. Next-generation broadband has the potential to transform the way we do things. It is tempting to jump in feet first, but it matters more to do this right than to do it now.”