The City of London Corporation has criticised BT for a slow rollout of high-speed broadband in the City.
Mark Boleat, policy chairman for the City of London wrote in City A.M. that the current state of provision is unacceptable.
"It is a major concern that firms in the Square Mile regularly complain that BT fails to deliver in a timely manner and provide the level of service required, notably through its decision not to roll out superfast broadband," he wrote.
"Market failure of this kind is clearly unacceptable for a world-leading global financial centre, and highlights that poor connectivity is not just an issue affecting rural areas."
Boleat said that the City is disadvantaged because of its lack of reasonably priced high-speed connections. He suggested that BT and Ofcom need to do more to make leased lines affordable.
"Larger organisations can access expensive dedicated leased lines and there is a range of suppliers available to provide these," he added.
"However, these lines are unaffordable for the 13,000 small and medium-sized enterprises (SMEs) and 9,000 residents based here, thereby restricting them to copper-based slower broadband."
The City of London Corporation has been campaigning for improvements in the Square Mile for some time. A spokesperson for the group said that the policy manager has also written letters to the telecoms firm and the watchdog, but would not share the letters with us.
The spokesperson added that face-to-face meetings with BT and Ofcom have also been set up. These will address the ‘urgent' issue.
The corporation is asking the business community, and local residents to join a social media campaign, by tweeting #SquareBroadband, or by filling out its online survey.
In a statement BT told V3 that it is working towards increased availability of high-speed broadband, and confirmed discussions with the City of London Corporation.
"As the Corporation of London say themselves, businesses throughout the Square Mile can access superfast services on dedicated lines specifically designed for companies. These are normally the most appropriate services for businesses given their demands are typically very different from consumers," it said in a statement.
"We are in talks with the Corporation of London about how to increase availability of lower-priced fibre broadband – which is primarily aimed at consumers, home workers and the very smallest SMEs."
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