Tech entrepreneur calls for broadband bond

A technology entrepreneur has called on BT to set up a community financing scheme to fund the rollout of super-fast broadband in Cambridge.

Speaking to Business Weekly, Dr David Cleevely, chairman of Cambridge Wireless, said that a previous campaign launched ten years ago proved successful in getting the company to invest in broadband infrastructure in the city.

Now he is calling for the telecoms firm to look at alternatives to public funding, with a bond-like mechanism one option which would help to meet the cost of improving services.

"I call on BT to set up a financing scheme - such as issuing a bond - which local communities can buy into and which will enable this broadband network to be funded," Dr Cleevely told the news provider.

According to the recent Media Literacy in the Nations study by Ofcom, three-quarters of people over the age of 16 have broadband in their household.