Openreach pegs full fibre overhaul anywhere between £3bn and £6bn
It's a re-run of the 1990s, this time it's Openreach / British Telecom pulling the government strings instead of the other way round and the result will be the same, the UK's telecoms infrastructure holding back business.
Quote from this article says it all.
"In 1986, I managed to get fibre to the home cheaper than copper and we started a programme where we built factories for manufacturing the system. By 1990, we had two factories, one in Ipswich and one in Birmingham, where were manufacturing components for systems to roll out to the local loop"
http://www.techradar.com/news/world-of-tech/how-the-uk-lost-the-broadband-race-in-1990-1224784