State Control is the likely result
Oh great - just what we need, a state controlled internet infrastructure.
Forget about how nice it would for rural areas to get a decent internet speed.
That is just the window dressing. The true purpose is to let in state control of content access through the back door.
Do you trust Corbyn and his cronies to decide what websites and content you can access?
See how well this works in China or North Korea (if they can get internet access at all!).
For them it is worth the high cost to be able to control what you can or cannot see.
No this is not just wild conspiracy theories - socialist/marxist governments just can't help themselves if they allow the opportunity.