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According to the CMA's research, over a third of UK businesses claim they will need broadband speed of up to 100Mbps to be able to meet future demands for next generation internet technology.

The CMA argues that, with its members spending £13 billion per year on communications and networks, the government needs to sort out its act and put their long-promised national broadband strategy into action.

"Back in April last year, we warned there was a limited window of opportunity over the next 12 to 24 months to develop and implement a concerted and innovative approach to regulation and policy‐making that would lead to a market‐led transition to next generation broadband," explained David Harrington, CMA's director of regulatory affairs.

"14 months on, there is little sign of either a concerted or innovative approach to regulation and policy‐making, which the government acknowledged, as recently as last September, as being necessary."

According to CMA's research, around a third of respondent say that even now, they do not receive satisfactory access to internet technology, such as infrastructure, services and applications.