£2.8 billion broadband boost predicted for the East Midlands

Added by Love Business East Midlands | 26 November 2024

A new report from experts at the Centre for Economics and Business Research (Cebr) and Stantec reveals that Openreach’s ongoing upgrades to Ultrafast Full Fibre broadband across the region could deliver a £2.8 billion boost to the East Midlands economy by 2029.

The research, commissioned by Openreach, looks ahead to 2029 and highlights how full fibre broadband is set to supercharge local economies, creating new jobs, driving social connectivity, and fuelling economic growth.

Key findings include:

Economic Impact: Openreach’s Full Fibre rollout could add £66 billion GVA to the UK economy by 2029.
Job Creation: Flexible work options could help 620,000 individuals, including parents and older workers, return to work.
NHS Support: An estimated five million online appointments by 2029 to help meet rising healthcare demands, doubling the current number.
Educational Benefits: A boost to pass rates for 21,700 students in key subjects.
Increases to Property Values: Homes with Full Fibre see an average increase of £1,900.
Environmental Gains: By 2029, 1.4 million more home workers will mean fewer car journeys and lower carbon emissions.

"Openreach is already leading the way in transforming digital connectivity across the East Midlands," said Kasam Hussain, Openreach’s regional director.

"With Full Fibre already available to 1.1 million homes and businesses in the region, we’re excited about the projected impact this work and our future build will have on local communities, as highlighted in the new report.

"By equipping residents and businesses with fast, reliable broadband, we’re not just upgrading internet speeds—we’re laying the groundwork for economic growth, job creation, and increased opportunities for remote work, digital learning, and innovative healthcare access.”

Openreach’s new Full Fibre network is already available to over 16 million homes and businesses across the UK and the company aims to reach 25 million by 2026, and as many as 30 million by the end of the decade, assuming conditions for investment remain supportive.

The rollout is also revolutionizing healthcare access, exemplified by platforms like eConsult, which facilitates online GP interactions for more than 50 million patients across 1,800 practices in England, Wales and Scotland. Such platforms are at the forefront of technological transformation for the healthcare industry.

“Our platform is just a small part of the tech revolution taking place in the healthcare sector”, said Doctor Murray Ellender, CEO of eConsult. “The rollout of Full Fibre enables every single patient, wherever they are, to access their GP online. Using digital tools like this not only promises to reduce waiting times and lighten GP workloads, but also improves patient care.”

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

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 our existing rollout and future plans, our research shows that over 13,000 more pupils (1% of the total number of Key Stage 2 students) 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.

Additionally, more than 8,700 more pupils (1% of the total number of Key Stage 4 students) could achieve pass rates that are higher as a result of the increase in Full Fibre connectivity between 2023 and 2029

People should visit the Openreach postcode checker to find out if full fibre is available in their local area, and then contact their broadband provider of choice to upgrade.

The Cebr report is available at openreach.com/about/policy-hub.

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