- 16th March 2018
- Posted by: Suzy Hill
- Category: Budget News, VAT
Government launches £67 million full-fibre broadband scheme
The government has launched a new £67 million full-fibre broadband scheme, with the stated aim of assisting small businesses and individuals to gain access to faster broadband.
Under the new nationwide Gigabit Broadband Voucher Scheme (GBVS), vouchers worth up to £3,000 for small businesses and £500 for individuals will be available to help reduce the costs associated with connecting to full-fibre broadband.
During the 2018 Spring Statement, Chancellor Philip Hammond announced the first allocation of funding from the government’s £190 million Challenge Fund, which provides money to support the roll-out of full-fibre broadband to 13 areas across the UK.
At this time, £95 million was allocated to 13 successful bidders from around the country.
The government stated that it is committed to making full-fibre broadband available to ‘at least’ 10 million businesses and homes by 2022.
Businesses and individuals wishing to make use of the new GBVS will be able to obtain vouchers from suppliers registered with the scheme.
Commenting on the introduction of the GBVS, the Chancellor said: ‘We’re backing Britain’s small businesses by investing £67 million to bring full-fibre broadband to more businesses up and down the country.
‘This means faster, more reliable broadband access as we build the digital infrastructure we need to make our economy fit for the future.’
The new GBVS will launch at the end of March 2018, and will be open until March 2021, or until all available funding has been allocated. Further information can be found here.