Every home and business in the country will get free superfast, secure and reliable internet connection within ten years under Labour plans to renationalise the broadband network. The next Labour government will bring parts of BT, which is responsible for fibre broadband roll-out, into public ownership. A new body, British Broadband, would be set up to address the problem of slow and patchy internet connection – and save the average family £30 a month on their broadband bills. Shadow Chancellor John McDonnell pledged the scheme would give every address access to free high quality WIFI within a decade. The radical proposal would cost a one-off £20bn, funded by £5bn already committed by the Government and an extra £15.3bn from Labour’s £250bn Green Transformation Fund. The cost of buying up parts of BT, including Openreach which runs much of the existing network, would be set by Parliament and paid for by swapping bonds for shares. Annual running costs would be around £230 million a year, paid through a new tax on multinationals – including internet giants like Amazon, Facebook and Google . In an exclusive interview with the Mirror, Mr McDonnell said: “We’re dramatically falling behind. The future of our economy has… Read full this story
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