cityfibre’s full-fibre to deliver over £40b of direct economic benefits

New research suggests that economic benefits worth over £40 billion will be reaped by CityFibre’s full-fibre rollout.

The research – conducted by consultancy firm Hatch – covers a 15-year period and examines the rollout across 285 cities, towns, and villages in England and Scotland.

Boosts to productivity and innovation account for £22 billion of the economic benefits; with poor connectivity no longer posing a barrier.

As more people transition to remote or hybrid working – further driven by skyrocketing fuel prices – full-fibre is helping to keep connections with colleagues and customers stronger than ever. Productivity benefits from supporting flexible working are set to drive an additional £1.2 billion.

The access to a wider talent pool that full-fibre across the country provides will deliver a further £4.8 billion of economic benefits, according to the research.

Finally, the report estimates that up to £15 billion in value will be added to homes covered by the full-fibre rollout.

Here’s the complete breakdown of the direct economic benefits:

ImpactValueProductivity and innovation benefit£22 billionHouse value increase£15 billionWidened workforce£4.9 billionDirect build impact£1.4 billionFlexible working£1.3 billionLocal gov operational efficiency savings£1.1 billionConstruction jobs£16,400

Greg Mesch, Chief Executive at CityFibre, said:

“This report demonstrates just how powerful a tool full-fibre is in levelling up the UK.

Digital infrastructure competition is driving billions of pounds of private investment from incumbents and challengers and every pound spent is unlocking economic growth, new jobs, and more efficient public services in some of the most deprived parts of the country.

We’re delighted to see the impact of our contribution and we look forward to playing an ever-larger role in future.”

Significant non-direct economic benefits worth over £80 billion were also identified in the report.

Unsurprisingly, 5G (£53B) is highlighted as the biggest indirect beneficiary of the full-fibre rollout. This is followed by the IoT (£16B), smart cities (£9B), healthcare (£2.7B), and the monetised value of carbon emissions reduction (£175M) expected from the rollout.

“This report from CityFibre highlights the huge productivity boost full-fibre can give the economy and is a critical part of levelling up, with the north of England standing to benefit the most from private-led investment,” commented Henri Murison, Director of the Northern Powerhouse Partnership.

“It is now the role of government to make sure that any public investment maximises what can be achieved through piggybacking on these benefits derived from effective competition.”

A full copy of the research can be found here (PDF)

(Photo by Christopher Bill on Unsplash)

TECH NEWS RELATED

Below-average harmful algal bloom predicted for western Lake Erie

Bloom severity index for 2002-2021, and the forecast for 2022. The index is based on the amount of biomass over the peak 30-days. Credit: NOAA NOAA and its research partners are forecasting that western Lake Erie will experience a smaller-than-average harmful algal bloom (HAB) this summer, which would make ...

View more: Below-average harmful algal bloom predicted for western Lake Erie

Universal optothermal micro/nanoscale rotors

Working mechanism of light-driven out-of-plane rotation of micro/nanoscale rotors. (A) A simplified schematic illustrating the experimental setup and operation for OTER of micro/nanoparticles. (B) Working mechanism of OTER: (i) In the nonuniform temperature field, Na+ and Cl− ions and PEG molecules diffuse to the cold region. Yellow arrows indicate ...

View more: Universal optothermal micro/nanoscale rotors

RadioShack Rises From the Dead (Again) to Shill Crypto, Because Of Course

Snjivo/Shutterstock Do you ever get the urge to buy an old brand name like RadioShack and use its lifeless corpse to sell cryptocurrency? Oh, me neither. But that’s exactly what’s happening today. Retail Ecommerce Ventures, an unregulated investment company owned by Tai Lopez and Alex Mehr, is preparing to launch ...

View more: RadioShack Rises From the Dead (Again) to Shill Crypto, Because Of Course

Tesla Submits Plans to Add Massive New Structure to its Gigafactory Texas Facility

Tesla plans to construct a huge additional facility at Gigafactory Texas. Even though it is the world’s largest structure, the company sees potential to grow at the site. Tesla Requested Permission to Build Another Enormous Building in Texas The city of Austin has received a request from Tesla to ...

View more: Tesla Submits Plans to Add Massive New Structure to its Gigafactory Texas Facility

Tesla Allegedly Abuses Employees Following Recent Racial Lawsuit

Tesla is currently facing a new lawsuit filed by its own employees. According to the complainants, the electric vehicle maker allegedly abused them because of their race. Tesla Racial Lawsuit (Photo : Tesla Fans Schweiz from Unsplash)Tesla is facing another lawsuit related to racial discrimination and sexual harassment. As per The ...

View more: Tesla Allegedly Abuses Employees Following Recent Racial Lawsuit

Tesla Gigafactory Texas Expansion Request Has Been Filed! Here's How Massive the Additional Plant Is

The Tesla Gigafactory Texas expansion is now confirmed after the giant electric carmaker filed a request to the city of Austin. (Photo : Photo by SUZANNE CORDEIRO/AFP via Getty Images)CEO of Tesla Motors Elon Musk speaks at the Tesla Giga Texas manufacturing “Cyber Rodeo” grand opening party on April 7, ...

View more: Tesla Gigafactory Texas Expansion Request Has Been Filed! Here's How Massive the Additional Plant Is

Study begins to unravel the mysterious evolution of fatherless male insects

Examples of the gnats (left and middle) and springtrail (right) species used in the study. Credit: San Francisco State University It’s not often that you see genetic systems described as “bizarre” in the title of a scientific research paper. That is unless it’s from the lab of San Francisco ...

View more: Study begins to unravel the mysterious evolution of fatherless male insects

Ibuprofen tablets with flavor added survive better in space

Credit: Pixabay/CC0 Public Domain Ibuprofen tablets modified to survive in space have returned to Earth and shown that those with added flavor survived better with less degradation than those with no added taste. Researchers from the International Flavor Research Center at the University of Nottingham worked with the University ...

View more: Ibuprofen tablets with flavor added survive better in space

Learning to combat DDOS attacks

Companies have a simple and legal way to help their workers living in anti-abortion states—expanding paid time off

Scientists decipher, catalog the diverse origins of Earth's minerals

Who overturning Roe hurts most, explained in 7 charts

Did You Know That Sony Walkman, the Portable Cassette Player, Hit the Shelves on This Day in 1979?

Govt may launch national malware repository; to create robust cybersecurity regime

Indian unicorn heads meet British PM Boris Johnson; discuss India-UK collaboration

Chinese game developer miHoYo, creator of Genshin Impact, sues Minmetals trust firm in a case of speculative investment gone bad

eBay's Fourth of July Sale Includes Deals on Home Decor, Kitchen Gadgets, Tech and More

How to find marker genes in cell clusters

Here are the most effective things you can do to fight climate change

How reindeer eyes transform in winter to give them twilight vision

OTHER TECH NEWS

Top Car News Car News