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The rollout of super-fast broadband services can boost the European economy significantly, it has been claimed.

Neelie Kroes, Vice-President of the European Commission's Digital Agenda, said broadband can create opportunities for every citizen and change the economy for the better.

"The European Union needs fast broadband networks for everyone," she claimed.

"Without that, none of the magic will happen. That’s why broadband, more than anything, stimulates the economy."

Ms Kroes claimed that ten percentage points more broadband penetration equates to additional growth of between 1.0 and 1.5 per cent.

The Dutch politician argued that innovative investment is needed to ensure super-fast networks are established.

"For broadband, there is over €7 billion (£5.59 billion) for projects across Europe. Private sector leverage means we give taxpayers the most value from their euro," Ms Kroes stated.

"Altogether it could mean 45 million more households connected across Europe."

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