Openreach’s fibre upgrade could pump £66bn into UK economy by 2029

Upgrades to Openreach’s full fibre broadband could help bring a £66 billion boost to the UK economy in the next few years, new research suggests.

As well as the general economy boost, 620,000 people such as parents and older people could return to work by using full fibre, enabling more than one million to work from home, contributing an additional £19 billion annually.

Other key findings from research from the Centre for Economics and Business Research (Cebr) and Stantec include boosting NHS support, alongside benefits to education, property values and environmental gains.

The rollout will help to provide an estimated five million online appointments by 2029 to meet rising healthcare demands, doubling the current number, and improving healthcare access using platforms like eConsult, giving online GP interactions for more than 50 million patients.

Full fibre will help underpin further adoption of digital tools to help to reduce waiting times and GP workloads.

Another growth area is in education; online learning tools have been widely adopted in schools across the UK, enhanced by necessity through the pandemic.

Based on existing rollout and future plans, research shows that over 13,000 more pupils could achieve pass rates that are higher at Key Stage 2 Maths, Reading and Writing as a result of the increase in full fibre connectivity between 2023 and 2029.

Clive Selley, CEO of Openreach, said: “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.”