Business rates

The £400 million Digital Infrastructure Investment Fund to boost full-fibre broadband deployment is now formally launched

In November 2016, Chancellor Philip Hammond announced the creation of a new Digital Infrastructure Investment Fund (DIIF) of £400 million, matched by private finance to invest in new full fibre networks over the next 4 years. After being announced again in the March 2017 Budget alongside other measures to boost investment in digital infrastructure, the Fund was formally launched yesterday.

(more…)

Budget 2017 – more details on the Government’s full-fibre and 5G ambitions

Chancellor Philip Hammond delivered his Budget 2017 speech today, reiterating the Government’s objective to put the UK “at the forefront of the global technology revolution”. The Chancellor announced further details on the £23 billion National Productivity Investment Fund (NPIF) presented in the Autumn Statement and on the new Government 5G Strategy launched today.

(more…)

Local Government Finance Bill to bring £60million tax reform in a move to boost UK connectivity

Last week the DCLG (Department of Communities and Local Government) introduced in Parliament a Local Government Finance Bill offering full fibre infrastructure providers a £60million saving. This is part of the Government’s measures announced in the Autumn Statement, to boost UK digital connectivity. The Bill sets out the detail on a new 100% business rates relief on new full-fibre infrastructure for a 5-year period from 1 April 2017. This tax relief is designed to support the roll-out of full fibre to more homes and businesses and to “help get the UK ready for 5G”.

(more…)

Business rates revaluation will hit broadband infrastructure providers…and ultimately consumers

The Valuation Office Agency (VOA) announced last week a fourfold rise in business rates (taxes on the value of real estates) on some major infrastructure providers’ bills. The revaluation was judged “excessive” by BT, whose Bill increases from £165m to £743m per annum,  who added that the increase in rates will likely lead to higher prices for consumers and businesses. Virgin Media echoed BT’s concerns on the likely negative impact of the increase on future investment decision in telecoms infrastructure.

(more…)