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A failure to invest enough money in UK broadband infrastructure is costing the Treasury a significant amount of tax income each year, it has been claimed.

Oliver Johnson, Chief Executive Officer at analyst firm Point Topic, said that with more advanced broadband networks, the UK could generate an additional £4.4 trillion per year in gross domestic product.

Speaking to Total Telecom, he explained this would bring in another £0.89 trillion in tax receipts.

But in order to boost Treasury takings, Mr Johnson said the government needs to ensure that high-speed broadband is available to homes and businesses across the UK.

He accused ministers past and present of lacking the foresight necessary to drive the necessary progress - claiming that this is costing the economy.

The government has set aside £530 million for broadband upgrades in rural areas, with the prospect of another £300 million to come from the BBC licence fee after 2015.

However, critics have argued that this fund is inadequate as the coalition aims to provide universal coverage to 2Mb broadband services.

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