The government is unlikely to meet targets of installing superfast broadband to 90% of the UK by 2015. According to a new report from the London School of Economics (LSE), the current levels of funding will not suffice.

The report estimated that for the target to be met, the public funds set aside, around £1.3 billion for the scheme would need to nearly double. The remaining funding could come from the private sector. It was also stated that the £50 million set aside for the scheme in the latest Budget would not come close to the funding required.

The report, ‘Costs and Benefits of Superfast Broadband in the UK’, stated: “The government’s universal service commitment for basic broadband to reach the whole country by 2015 is on course.

“However, meeting the government targets of 100% fast broadband coverage and 90% superfast broadband coverage in 2015 will absorb not only the funding from public sources but also roughly equal funding from private sources.”

The report also noted that it was unclear whether the £50 million fund for a “wave of 10 smaller super-connected cities” would be for ‘superfast’ or ‘ultrafast’ broadband.