“In the UK, Labour has raised the possibility of direct government subsidies to build a network, which may be necessary to bring 5G to rural areas. The good news is that 5G is a technology still in its infancy, so there is plenty of time for Britain to catch up.

 

Doing so should be an overwhelming priority, according to the economist Douglas McWilliams, who forecast the rapid growth of the hi-tech and creative sectors in his 2015 book The Flat White Economy. He thinks Britain’s status as a digital laggard has had relatively little impact on growth so far, but that could be about to change.

 

“We are transforming ourselves into a digital economy,” said McWilliams. “By 2030, unless we catch up with the best in class, the impact on GDP could be as much as a quarter.”

 

That figure may sound fanciful, but McWilliams expects the digital sector to account for half the economy by the end of the next decade — if Britain can keep up with overseas rivals.

 

“The risk of getting this wrong is so huge it is worth paying whatever it takes to get ahead of the curve,” he said.

 

“Forget Brexit — this is a much bigger deal for the economy.””

 

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