In order to remain competitive, the UK needs to develop ultra-fast broadband networks, a minister has warned.Stephen Timms, minister for competitiveness, stated that the country needs to keep up with other countries which are working towards building networks that can deliver speeds of up to 100 Mbps, the BBC reports.
He stated: "We need to be discussing how we can put this new network into place, because delay could be a barrier to the future success of our economy."
Mr Timms, along with other ministers, is set to meet broadband industry leaders at a summit to discuss how to prevent Britain from falling behind other nations in this respect.
The summit will focus on how industry, the government and regulators can ensure that the UK gets the next-generation network that will be required as new services, such as internet video, gather pace.
According to the BBC, BT - Britain's largest provider of broadband - has already issued a warning that it may struggle to fund an ultra-fast network.
However, rival firm Virgin has stated that it will be able to deliver 50 Mbps broadband by the end of 2008, a speed double that of its current offerings. The faster service will be available to 70 per cent of the 12.5 million homes its network currently covers, it added.
According to figures released recently by the Office for National Statistics, almost nine out of ten (88.4 per cent) of all internet connections in the UK are now broadband.
