Chancellor hints at the fund for smaller ISPs

George Osborne’s Autumn statement has suggested that the government plans to set up a fund to support smaller ISPs.

 

George Osborne’s Autumn statement has suggested that the government plans to set up a fund to support smaller ISPs.

During Osborne’s spending review last week, the chancellor mentioned that the broadband sector would continue to be supported by the government, with an alternative network for consumers being part of its aim.

"(The government) will explore setting up a new broadband investment fund, to support the growth of alternative network developers by providing greater access to finance".

"The fund would be supported by both public and private investors, and would be managed by the private sector on a commercial basis."

In order to add to this, the government is also planning to reveal a Digital Transformation Plan at the start of next year.

This report will essentially layout how an improved broadband infrastructure will benefit the UK financially due to increased productivity. 

These new measures come on the tail end of the government's Broadband Delivery UK project, which has been rolling out superfast broadband to areas of the country that still don’t have it.

This rollout aims to cover 95% of the UK by 2017, with Digital Economy minister Ed Vaizey claiming that it is on track to achieve this goal. 

On top of this, the government has pledged that it will raised the national minimum broadband speed to 10Mbps, a move which has seen support from broadband provider BT. 

Source: USwitch

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