Government ministers have confirmed plans to axe business rates on ultrafast broadband lines, a move they claim will unleash greater investment in the UK’s telecoms networks.
A new Telecommunications Infrastructure Bill will introduce the relief which is aimed at providing firms such as BT and Virgin Media with a financial incentive to upgrade their networks and offer homes and businesses faster speeds.
Ministers say the move will “transform the way in which modern businesses work together, reach their consumers and target their export markets” by improving speeds and service quality.
Residential users will also benefit from the faster speeds offered by fibre which will enable multiple members of a household to stream movies, play games online and work from home.
Matt Hancock, Minister of State for Digital, said: “We want Britain to remain the digital world leader that it is, and that means having the right infrastructure in place that will allow us keep up with the rapid advances in technology now and in the future.
“We want to see more commercial investment in the gold standard connectivity that full-fibre provides.”