Openreach full fibre broadband upgrade 'could deliver £66 billion boost to UK'

Upgrades to Openreach's ultrafast full fibre broadband network could inject a £66 billion boost into the UK economy in the coming years, according to new research.

The report suggests that this major technological advancement could propel productivity and significantly improve public services, potentially guiding over 620,000 people back into employment.

Additionally, it foresees the network enabling in excess of one million individuals to work remotely with enhanced connectivity.

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Openreach chief executive Clive Selley said: "Our new full fibre network is a growth and prosperity engine.

"This report highlights how it will create jobs, enhance connectivity, and drive economic improvements across each nation of the UK, but continued investment depends on a stable policy and regulatory environment."

Currently, Openreach has made its full fibre network accessible to more than 16 million homes and business premises nationwide.

It hopes to extend this to 25 million by 2026 and then 30 million by the decade's close.

The analysis, undertaken by the Centre for Economics and Business Research alongside Stantec, anticipates the full fibre rollout adding a substantial £66 billion to the British economy by the year 2029.