The report warns that companies are being “held back” by slow internet connections. It says 42 per cent of small and medium-sized businesses report problems with their internet connections, at an estimated cost of £11 billion to the economy. The letter’s signatories include the former Tory Cabinet ministers Owen Paterson and Liam Fox, as well as 23 Labour MPs, with support from Liberal Democrats, Ukip, Plaid Cymru and the SNP.