Business secretary Lord Mandelson said that part of the new Next Generation Fund will be used to boost internet provision in rural communities and hard-to-reach areas.
The investment will allow up to 90 per cent of the country to have access to superfast broadband. Previous estimates had suggested that just 70 per cent would be covered by 2017 if private funding was relied on.
Lord Mandelson pointed out that half of the UK is benefitting from internet speeds of 50 Mbps and said the new fund will ensure that no areas are left behind.
'We cannot underestimate the opportunities this will bring for homes and businesses, which is why we are taking action to make sure everyone benefits,' he added.
Last month, BT chief executive Ian Livingston confirmed that the company's £1.5 billion fibre-optic network will be rolled out in time for 2012 London Olympic Games.
The investment will allow up to 90 per cent of the country to have access to superfast broadband. Previous estimates had suggested that just 70 per cent would be covered by 2017 if private funding was relied on.
Lord Mandelson pointed out that half of the UK is benefitting from internet speeds of 50 Mbps and said the new fund will ensure that no areas are left behind.
'We cannot underestimate the opportunities this will bring for homes and businesses, which is why we are taking action to make sure everyone benefits,' he added.
Last month, BT chief executive Ian Livingston confirmed that the company's £1.5 billion fibre-optic network will be rolled out in time for 2012 London Olympic Games.
