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Telecoms regulator Ofcom said its auction of 4G airwaves raised £2.3 billion, well below the government’s £3.5 billion target.
The Chancellor George Osborne had mentioned the projected income as part of his claim in the Autumn Statement that borrowing could be reduced.
ITV News Consumer Editor Chris Choi reports:
Labour said the government raising £2.3 billion in the 4G auction instead of the £3.5 billion that was budgeted was a "blow" to George Osborne's economic plan.
The government had hoped to raise £3.5 billion from the 4G auction but only managed to raise £2.3 billion.
Here is the amount each company paid:
- Everything Everywhere paid £588 million.
- Hutchison 3G UK paid £225 million.
- Niche Spectrum Ventures (subsidiary of BT) paid £186 million.
- Telefónica UK Ltd paid £550 million.
- Vodafone Ltd paid £790 million.
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4G was meant to earn £3.5 billion for government yet only £2.3 billion was achieved in the auction of phone frequencies.
With the announcement that 4G is confirmed for rollout across the UK later this year, what does the future hold for mobile data services?