Broadband means faster access to websites and downloads

The study estimates that by 2015 broadband should have boosted Britain's productivity by 2.5%.

This is the equivalent of each person working an extra hour a week.

But the report, carried out by the Centre for Economics and Business Research, says the �22bn figure will only be possible if there is more competition in the industry.

Campaigning

The report marks the launch of a broadband lobby group, the Broadband Industry Group, formed by six UK communications companies.

KEY FINDINGS GDP up by �22bn by 2015 Productivity up 2.5% Borrowing down �13bn

They claim broadband could have the same transforming effect on the economy as electricity did between 1890 and 1920, but only if regulations are changed to encourage extra competition.

John Pluthero, chief executive of Energis said: "If we want an innovative, dynamic broadband market delivering huge economic benefit to the UK, genuine wholesale competition is needed."

He said the group looked forward to working with telecoms watchdog Oftel and other operators, including main player BT, to make it happen.

The report also estimated that government borrowing could be �13bn lower by 2015, through the extra tax revenues created by the broadband-fuelled faster growing economy.