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techUK welcomes news of more than £1bn of funding for fibre broadband and 5G mobile technology.

Recently the Prime Minister set out a vision for a thriving British economy that is driven by innovation. That innovation will depend upon a world class digital communications infrastructure. techUK therefore welcomes the news of more than £1bn of funding to supercharge investments in fibre broadband and 5G mobile technology.

Commenting, techUK Deputy CEO Antony Walker said:

“For Britain to make a success of Brexit we need to take our digital infrastructure from good to great. The announcement of this funding for fibre broadband and 5G mobile is a powerful signal to the world of the UK’s ambition to be a leading digital nation. However, it is just a start. The full costs of deploying these new networks across the UK will be many times greater than the £1bn announced today. Public funding therefore needs to be targeted carefully. We believe the bulk of the investment required should come from the private sector. Too unlock that investment we need Government and Ofcom to work with the industry to set out a wider long-term strategy for telecoms. That strategy needs to focus on what more Government and Local Government can do to drive down infrastructure deployment costs. It also needs to set out a regulatory approach that recognises the need to attract long-term private investment from around the world.”

>> Check out what techUK is calling for in this week's Autumn Statement

>> Read our Deputy CEO Antony Walker on 'An Industrial Strategy for a New Global Britain'