Over the last year, the UK Government has been proudly preaching of massive investments into digital infrastructure. It’s questionable how much has made its way into reality, but an additional £95 million has been released today.
The Local Full Fibre Networks (LFFN) Challenge Fund has announced £95 million has been made available to aid the roll-out of full fibre networks. Local authorities and public sector bodies around the UK can apply to the Local Full Fibre Networks Investment Panel to access the investment, which has been earmarked for rural areas, regions which have higher than average hurdles to 5G, the public sector and the development of local technology hubs. A plan to spend the money by March 2021 would have to be tabled to be applicable, with the Department of Digital, Culture, Media and Sport believing £95 million should be enough to fund roughly 20 projects.
“We recently set out our ambition for a nationwide full-fibre broadband network by 2033, and initiatives like this will be instrumental in achieving that,” said Minister for Digital, Margot James. “We want to hear from any local authority interested in taking part, so we can work closely with them on their plans to help them secure funding.”
The first two rounds of grant funding released £105 million into the economy, while this £95 million will deplete the funds bank account. The cash itself is part of the government’s expanded £31 billion National Productivity Investment Fund, £740 million has been reserved for digital infrastructure. How many cheques have been signed so far is unknown, though questions still remain whether £740 million is a big enough commitment considering the lost ground on global leaders.
As it should be, emphasis will be placed on the proposals which plug the gaps from private sector investment. Rural regions are of course an area of interest here, as are regional technology hubs, potentially decreasing the reliance of the UK economy on London. The Midlands is an excellent example of this initiative, with the region targeting the development of electric cars and the components in creating its own hub of technical excellence.
For those interested in wrestling investment away from the fund, an email expressing interest would have to be sent by September 30 2018.