For many of us a high speed internet connection is an increasingly vital part of everyday life. Whether streaming music, TV and films or staying in touch with distant relatives, the ability to connect quickly and seamlessly has transformed the way we live and work. The pandemic changed the way we think about working from home and accelerated the development of new platforms and allowed people to start their own businesses without many of the previously prohibitive up front costs.
But for too many people, including hundreds living here in Fylde, speeds remain too slow and connections too unreliable. I am concerned that, particularly in our rural communities, a digital divide is developing. It is vital we move quickly to close that gap and to ensure everyone enjoys the benefits of the broadband age.
I recently met with Building Digital UK met with Building Digital UK, the organisation charged with delivering the Government’s Project Gigabit. The scheme is designed to ensure connections are available to all communities, not just those where it is commercially viable to install new high speed links. I made clear the challenges here in Fylde, in both our rural and urban areas, where speeds are lagging behind other areas of the country. I want to see much quicker progress made on upgrading broadband across Fylde.
There are 80,000 homes and businesses across Lancashire where a commercial connection is not viable. I am pleased to hear that work is underway to put in place a contract to deliver high speed broadband to these properties and that, all being well, work could begin on the infrastructure works by the end of next year. At the same time it is vital to keep up the pressure on commercial developers, to speed up the high speed internet revolution in Fylde, to help more families and entrepreneurs and to boost our local economy.
Another key to supporting start-up and small businesses is to reduce the costs they face. Inflation has made life harder for us all but the Prime Minister is clear in his determination to halve the rate this year and, if possible, to cut inflation further. Cutting inflation matters, not only in terms of the bills we all pay and the cost of a weekly shop, but because it pushes up the cost of borrowing, potentially holding back innovation and growth.
In the longer term it is important we are protected from future shocks in the energy market, which have contributed to our current economic headwinds. This week regulators in the United States have given approval to the first design of new Small Modular Reactors, a potentially significant step forward in nuclear technology. Manufacturing sites and potential reaction locations have already been identified here in the UK and firms are already working with our own regulators to bring forward this technology which could reduce the time and cost of a nuclear build.
Renewables also have a crucial part to play and this week a major milestone was reached in the development of new wind farms off our own coast. The Crown Estate has signed off the lease for the Morecambe and Morgan schemes which together have the potential to generate enough electricity to power two million homes. The massive investment we are seeing in both nuclear and renewable power will boost our national energy security and support jobs and skills here in Fylde. Our communities really are at the heart of the push towards greener, cleaner, more sustainable power.
While excitement is growing over potential new investment, it is pleasing to see existing major schemes nearing completion. The Preston West Distributor road, linking to a new junction on the M55 should be open in spring, helping unlock the potential of our local communities, cutting journey times and reducing the volume of traffic through towns and villages in Fylde. I appreciate the frustration of those living and working in Fylde who have been caught up in traffic while the new road is connected to the existing network but recognise the long term benefits are huge. With the A585 bypass and new Moss Road also progressing well, this has the potential to be a significant year for Fylde with more than £300m of roads investment due to be completed. But we cannot stop there which is why I continue to press for investment in our railways, to double frequency of service on the South Fylde line, and for further improvements to our motorway links, to truly make the best of what Fylde has to offer.