Venus Welcomes Chancellor's £1bn broadband investment

Venus Welcomes Chancellor's £1bn broadband investment

Venus Business Communications welcomed Chancellor Philip Hammond’s autumn statement announcement pledging a £1 billion investment in broadband. The new broadband investment package will pump £400 million into a new Digital Investment Fund to stimulate fibre network operators to scale up rapidly to meet the demands of businesses and Homes across the UK for high speed connectivity. Venus is continuing to expand the Venus Dark Fibre network that delivers fibre to its customers and welcomes the investment that will help London get the communications infrastructure it needs to continue to compete in a global digital economy.

London is Europe’s largest city by Gross Domestic Product (GDP) generating over £350 billion per year, some 22% of the UK’s total GDP. To continue to compete in a global digital economy businesses need high speed connectivity and London is lagging behind with regard to full fibre coverage. “Venus has been expanding our Dark Fibre Network rapidly with customers taking up fibre connectivity through our extensive reseller network to meet the growing demand for high speed connectivity. Many of our customers enjoy gigabit per second speeds that can only be achieved through a full fibre network. I’m pleased that the government is recognising that more needs to be done following their successful Superconnected Cities Scheme to stimulate the growth of fibre networks and connectivity throughout the UK. The Digital Investment Fund will help remove some of the barriers to expanding fibre infrastructure rapidly,” says Brian Iddon Venus Business Communications’ Director.

Akamai Technologies, an American internet provider, conducted a study on how the internet speeds measure up in countries worldwide. The report showed Latvia, Mexico and Turkey have better full fibre uptake than the UK. Whitehall are worried that without intervention the UK will be left behind. “Investment in infrastructure is prudent given that fibre is the only technology that can support the goal of achieving gigabit cities cost-effectively. New devices and technologies drive the need for ever increasing connectivity and the UK has to keep pace. Venus has always based its network on full fibre connections looking to ensure our customers have future proof communications. We are looking forward to expanding our reach further in light of the government’s commitment to invest,” reveals Brian.   

The Chancellor, Mr Philip Hammond, pledged that two million more homes and businesses could get “full-fibre” broadband, which has the capacity to reach speeds of more than 1Gbps. Officials hope that by committing Government money into “full-fibre” broadband, existing providers will intensify the rollout of superfast broadband across the country, particularly in rural areas that have not yet been connected to high-speed internet.

“We believe that this investment will help to increase competition in the marketplace and deliver a rapid expansion of full fibre broadband to both homes and businesses. Importantly, the investment heralds the delivery of the extensive fibre network that London needs to continue to grow and maintain its status as an economic powerhouse in Europe,” concludes Brian.

 

 

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