BT claims Labour nationalisation plan would cost up to £100bn – business live

Rolling coverage of the latest economic and financial news, including reaction to Labour’s pledge to bring BT under partial state ownership if elected

10.41am GMT

BT competitor Virgin Media has weighed in.

It’s taken a subtle swipe at nationalisation proposals, saying that private – not public – investment is to thank for its own growth and success.

Virgin Media has the fastest scaled network in the UK and has pledged to bring next-generation Gigabit broadband to half of the UK, by the end of 2021. As this commitment shows, private investment is essential to delivering improved broadband infrastructure.

With billions of pounds worth of private money invested in the UK, Virgin Media continues to expand its network, providing competition and choice to consumers.

10.18am GMT

Amidst the flurry of reaction and commentary to Labour’s BT pledge, we’ve had the final reading of eurozone inflation released this morning.

The 19-country bloc’s headline inflation slowed to 0.7% year-on-year in October, from 0.8% in September. That’s line with preliminary estimates by Eurostat.

Continue reading…Rolling coverage of the latest economic and financial news, including reaction to Labour’s pledge to bring BT under partial state ownership if electedShadow chancellor details Openreach plansRival TalkTalk stalls sale of fibre arm amid Labour pledgeFull story: Labour pledges free broadband for all homes and firms in UK 10.41am GMTBT competitor Virgin Media has weighed in. It’s taken a subtle swipe at nationalisation proposals, saying that private – not public – investment is to thank for its own growth and success. Virgin Media has the fastest scaled network in the UK and has pledged to bring next-generation Gigabit broadband to half of the UK, by the end of 2021. As this commitment shows, private investment is essential to delivering improved broadband infrastructure. With billions of pounds worth of private money invested in the UK, Virgin Media continues to expand its network, providing competition and choice to consumers. 10.18am GMTAmidst the flurry of reaction and commentary to Labour’s BT pledge, we’ve had the final reading of eurozone inflation released this morning. The 19-country bloc’s headline inflation slowed to 0.7% year-on-year in October, from 0.8% in September. That’s line with preliminary estimates by Eurostat. Continue reading…