I’m not the brightest bulb in the ceiling at times and this is one of those moments.
Let me get this right.A private business agrees to install superfast broadband across Lincolnshire. This private business will lay out the capital to build the infrastructure.
Once installed, said private business then charges all customers for this upgrade (probably £30 as a “one-off” fee to upgrade inside the home and add £10 to £15 per month over 18 months to an existing contract no matter who the ISP is).
The private business then recoups its money, making long-term profits for itself and its shareholders from the upgrades.
But hang on. Along comes the British government, the European Union, Lincolnshire County Council and thus all local authorities in Lincolnshire and chucks in around £21million extra to pay said private company to give us superfast broadband.
Said private company then has to take less risk by dumping a lot of the risk on the public purse.Said private company makes a vast fortune from its own reduced investment, and tops it up with public investment thus making even more huge profits. Since when have private and public initiatives like this ever worked out?
So the runners-up here will be the private/business customers who end up paying over the odds in the long run in their personal and company taxes, local and county council taxes, commercial and residential rates, higher internet provider charges etc.
The winner will be the private firm and its investors who will recoup far more money than they pay out because the world and his wife have piled in with wedges of cash to splurge.
What is so disagreeable is if South Holland District Council (and every other local authority in Lincolnshire) don’t cough up nearly £700,000 each they get no say in the matter about their superfast broadband.
I think someone should look at the extremely small print to see if this deal really IS the best.
It seems to me a deal more full of holes than a moth-eaten sweater. Perhaps someone who IS a bright bulb in the ceiling would care to explain in great detail the cost to us.
St Thomas’ Road