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Investment in broadband has delivered "significant" benefits to the UK economy, Ofcom has stated.

The watchdog appointed Dr Pantelis Koutroumpis of Oxford University to identify evidence of a causal link between broadband investment and growth.

Figures showed that across 35 OECD countries, an increase in broadband adoption between 2002 and 2016 led to gross domestic product (GDP) going up by an average of 0.3 per cent per annum.

In the UK, the increase in GDP was 0.37 per cent, which works out to a total increase of 5.3 per cent across the 15-year period.

Ofcom went on to note that Dr Koutroumpis's research also found a strong correlation between broadband speed and economic growth.

The study stated that the contribution of broadband speed improvements to UK GDP was higher than the average for other OECD nations, with the UK’s average increase of around 0.1 per cent a year comparing with the OECD average of about 0.08 per cent a year.

This means the impact of broadband investment and speed improvements on UK GDP was 0.47 per cent a year on average.

Ofcom added that the overall benefit was an addition of around 6.7 per cent to UK GDP as a result of improvements in broadband networks over the period.

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