Openreach fibre broadband upgrades 'could give Yorkshire a £2.6bn economic boost'
Upgrades to fibre broadband in Yorkshire could provide a £2.6bn boost to the region’s economy by 2029, research commissioned by Openreach has suggested.
Work carried out by the Centre for Economics and Business Research (Cebr) and Stantec has assessed the likely economic impact of Openreach’s ongoing upgrades to Ultrafast Full Fibre broadband across the country.
It has suggested that nationally the productivity and workforce boosts to Gross Value Added (GVA) will total £66 billion per year by 2029 and £73 billion per year by 2034.
A report summary said access to improved internet services can help people return to work and particularly assist local areas.
It said: “The report estimates that our rollout could bring over 620,000 people back into the workforce by the end of this Parliament , which is worth over £19 billion per year to the UK economy by 2029. By the end of 2034, 652,000 people could be back in work, adding over £21 billion per year to the UK economy. [This is] crucial at a time when a quarter of people of working age are not in work.”
It added: "The working world has changed dramatically since the pandemic, and the ability to work flexibly provides people across the UK with the freedom to work from home and live further from their place of work. Our research highlights that by 2029 there will be 1.4 million home workers, an increase of nearly 900,000 on 2024. With enhanced digital connectivity, physical proximity becomes less important.
"Full Fibre development has the potential to reinvigorate local and rural economies across the country, reversing current trends of rural depopulation.
"As more people switch away from commuting, it’s modelled that some of the time saved commuting will be spent working.”
Kasam Hussain, Openreach’s regional director, said: “With Full Fibre already available to more than 1.4 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.”
Clive Selley, chief executive of Openreach, 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.”
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.