WORKING from home with a poor broadband connection is costing the UK's economy £60bn per year, according to recent research.

Figures from software company Actual Experience showed that technical issues with broadband have led to a loss of £1,000 per average worker. IT issues created problems especially in the City, as it led to pricing errors when moving assets worth millions, the Sunday Telegraph first reported.

"Many people suffer from flawed access to the digital world," Actual Experience's chief executive Dave Page told the outlet.

"This digital friction is costing UK businesses and the economy vast sums of money every year."

The firm called on the government to guarantee tax breaks to companies that install fast and secure connections in their employees' homes as the problem is set to increase as more workers maintain their hybrid or remote working habits.

BEIS was approached for comment.

(c) 2022 City A.M., source Newspaper