Two million homes to get fibre broadband every year, as Hammond promises to modernise the economy

Two million homes and businesses will be connected to a full carbon fibre broadband every year for the next seven years to modernize the economic infrastructure of the UK, the Chancellor demanded.

The UK economy is lagging behind its neighbors and said Philip Hammond one of the ways to make the gap more to spend on communications.

“In the 21st century, fiber-optic network will create the appropriate infrastructure that stimulates economic growth”, – he told the CBI annual dinner.

The Chancellor said that the modernization of the economic infrastructure of the UK

Credit:
Simon Dawson/Bloomberg

“Full fiber networks are faster, more reliable, and more affordable to operate than their copper predecessors.

“This evening, I set out to see the full fibre connections will be available to 15 million premises that the majority of homes and businesses by 2025.”

Said Mr. Hammond, the government does not order the business has hit the target, but instead is “the creation of conditions for the market to deliver”.

Broadband speed | how to this is Britain?

He also runs a gap analysis of productivity, which hopes to study the practice of most productive firms in our country and spread their knowledge and opportunities as others.

“The government cannot solve alone the performance problem of our country, because we are talking not only about investing in infrastructure. It is also management skills at the firm level”, – he said.

“We need business leaders in this room and across the country to embrace innovation and technological change and to invest in stimulating productivity growth. Britain, of course, a lot of the world’s leading companies who do this very well, but there are also too many that could do better.”

This includes a call for evidence looking for reasons why some firms not to lag behind those on the front lines.

Share the secrets of success can only do good

Said Mr. Hammond of the Treasury will be another 20 million pounds into the scheme, made smarter ‘to work for the boss of Siemens UK Juergen Maier, which adds new technology in supply chains of manufacturers.

A further £5.6 M business, the group established by John Lewis Chairman Charlie Mayfield, who is studying ways for companies to improve performance and share best practice.

Speech of Mr. Hammond comes after the outgoing President of KBR Paul Drexler told the Sunday Telegraph that politicians should be more positive in respect of the UK business and the economy best in the world.

The British chamber of Commerce also criticized the government this week for failing to take basic steps to improve infrastructure and skills, enhancing the productivity growth from the level of the impressive post-crisis era.

Business Credit Report #BusinessCreditReport Home