Home
 » ISP News, Key Developments » 
Sponsored

New UK Infrastructure Bank May Boost Gigabit Broadband and 5G

Sunday, February 28th, 2021 (9:43 am) - Score 3,840
money pile

The HM Treasury has announced that its plan to setup a new UK Infrastructure Bank, which was first proposed in last year’s Spending Review, will be supported by an initial £12bn in capital investment and £10bn in loan guarantees. In theory this could help to unlock more private investment, such as to boost the gigabit broadband rollout.

The idea of creating an Infrastructure Bank to help crowd-in private investment isn’t a new one and the UK will probably follow a similar model to that of the European Investment Bank (EIB). However, Brexit meant that UK projects were no longer eligible for new operations from the EIB, which is reserved for EU member states and thus an alternative was needed.

At present the exact details of how this new UK “bank” will work are still unclear, but it will probably be operationally independent and work to encourage private finance by reducing risks, promoting market stability, and increasing investor confidence via products such as equity, loans and guarantees.

Rishi Sunak, UK Chancellor, said:

“We are backing this Bank with the finance it needs to deliver modern infrastructure fit for the 21st century and create jobs. This shows how serious we are about levelling up the country so that everybody can benefit from our future prosperity.”

Julian David, CEO of techUK, said:

“A £12 billion infrastructure bank and £375 million boost to the successful Future Fund are welcome announcements from the Chancellor ahead of the budget.

Ensuring that the new National Infrastructure Bank can invest in digital infrastructure and the new Future Fund: Breakthrough scheme aims to increase investment across the UK will be vital to building an inclusive recovery. Enabling access to world leading digital infrastructure across the country and providing funding for the next generation of entrepreneurship will be vital to make sure that opportunity and success is not limited by location.

If the UK falls behind in the rollout of 5G this could see us lose up to £173 billion in growth over the next decade. We also need to ensure that high growth firms outside of London are well supported, as while the Future Fund was a lifeline for many at the height of the pandemic over 60% of funding went to London based firms.”

The bank itself is expected to launch this spring, and it’s predicted that it could fuel a £40bn spending spree on infrastructure.

Share with Twitter
Share with Linkedin
Share with Facebook
Share with Reddit
Share with Pinterest
Mark Jackson
By Mark Jackson
Mark is a professional technology writer, IT consultant and computer engineer from Dorset (England), he also founded ISPreview in 1999 and enjoys analysing the latest telecoms and broadband developments. Find me on Twitter, , Facebook and Linkedin.
Leave a Comment
7 Responses
  1. Avatar Sam says:

    The government is hot air when it comes to broadband… I will believe it when I actually see it.

    1. Avatar Josh Welby says:

      Agreed

    2. Avatar P says:

      Yeap, I am the same these days. Just lots of endless empty promises.

  2. Avatar GNewton says:

    The main issue is the fact that for many areas the ROI for fibre investment will be beyond the short scope of private businesses. Only an initially government-backed NBN-style approach for at least certain areas can overcome this. It won’t burden the taxpayer in the long term, with increasing NBN revenues over the years, and and eventual sale of NBN shares to private investors.

    1. Avatar FibreFred says:

      I’m surprised you are touting NBN as a good example.

      They abandoned fttp early on and swapped to fttn.

    2. Avatar CarlT says:

      Maybe he was talking about Singapore’s NBN – https://www.imda.gov.sg/programme-listing/wired/next-gen-nbn

    3. Avatar GNewton says:

      The original Australian NBN plan was about a fibre rollout to large parts of Australia. The later MTM approach was only introduced by the successor Coalition government which abandoned the original Labor NBN fibre rollout plan.

      The UK needs a proper fibre rollout, using a sustainable plan. The current approach of soloy relying on private companies won’t solve the current issue of the digital divide or wasteful builds of multiple fibre access networks in urban areas. Past BDUK projects have been a farce!

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Comments RSS Feed

Javascript must be enabled to post (most browsers do this automatically)

Privacy Notice: Please note that news comments are anonymous, which means that we do NOT require you to enter any real personal details to post a message. By clicking to submit a post you agree to storing your comment content, display name, IP, email and / or website details in our database, for as long as the post remains live.

Only the submitted name and comment will be displayed in public, while the rest will be kept private (we will never share this outside of ISPreview, regardless of whether the data is real or fake). This comment system uses submitted IP, email and website address data to spot abuse and spammers. All data is transferred via an encrypted (https secure) session.

NOTE 1: Sometimes your comment might not appear immediately due to site cache (this is cleared every few hours) or it may be caught by automated moderation / anti-spam.

NOTE 2: Comments that break our rules, spam, troll or post via known fake IP/proxy servers may be blocked or removed.
Cheapest Superfast ISPs
  • NOW £22.00 (*32.00)
    Speed 36Mbps, Unlimited
    Gift: None
  • TalkTalk £22.00 (*29.95)
    Speed 38Mbps, Unlimited
    Gift: None
  • Vodafone £22.00 (*25.00)
    Speed 35Mbps, Unlimited
    Gift: None
  • Hyperoptic £22.00
    Speed 50Mbps, Unlimited
    Gift: Promo Code: EASTERSALE
  • xln telecom £22.74 (*47.94)
    Speed 66Mbps, Unlimited
    Gift: None
Large Availability | View All
Cheapest Ultrafast ISPs
  • Vodafone £26.00 (*29.00)
    Speed: 100Mbps, Unlimited
    Gift: None
  • Virgin Media £28.00 (*44.00)
    Speed: 108Mbps, Unlimited
    Gift: None
  • Hyperoptic £29.00 (*35.00)
    Speed: 150Mbps, Unlimited
    Gift: Promo Code: EASTERSALE
  • TalkTalk £29.95 (*39.95)
    Speed: 145Mbps, Unlimited
    Gift: None
  • Leetline £34.99 - 43.99
    Speed: 100Mbps, Unlimited
    Gift: None
Large Availability | View All
The Top 20 Category Tags
  1. FTTP (3154)
  2. BT (2907)
  3. FTTC (1843)
  4. Building Digital UK (1842)
  5. Politics (1820)
  6. Openreach (1736)
  7. Business (1576)
  8. Mobile Broadband (1366)
  9. FTTH (1355)
  10. Statistics (1335)
  11. 4G (1175)
  12. Fibre Optic (1121)
  13. Wireless Internet (1097)
  14. Virgin Media (1089)
  15. Ofcom Regulation (1086)
  16. EE (775)
  17. Vodafone (767)
  18. TalkTalk (729)
  19. Sky Broadband (711)
  20. 5G (655)
Promotion
Helpful ISP Guides and Tips
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
Sponsored

Copyright © 1999 to Present - ISPreview.co.uk - All Rights Reserved - Terms , Privacy and Cookie Policy , Links , Website Rules , Contact