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EU Says Plan to Boost Bandwidth Could Raise GDP by $1 Trillion

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The European Commission proposed new regulations that would speed telecommunications networks across the EU and trigger investments that it says could boost economic output by 910 billion euros ($1 trillion) and create 1.3 million new jobs by 2025.

Getting there is expected to cost 500 billion euros over the coming decade, funds that will largely have to come from private sources, the commission said in an e-mailed statement Wednesday. To stoke investment, the EU said it would “substantially” cut regulation where rival carriers co-fund high-capacity networks. The commission also presented an action plan to deploy 5G mobile networks across the region from 2018.

“Without first-class communication networks, there will be no digital single market” said Andrus Ansip, EU commissioner in charge of digital issues. “We need connectivity that people can afford and use while on the move.” – READ MORE

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