Corbyn promises free broadband for all

The Labour government proposes to make the fastest full fibre broadband free for all UK homes as a public service. This initiative, called British Broadband, will be funded by taxing large corporations like Google and Facebook, and by closing tax loopholes. The plan aims to improve the UK's lagging broadband infrastructure, which currently serves only 8-10% of the population with full fibre, compared to 98% in South Korea. The initiative will be rolled out over 10 years, bringing parts of BT into public ownership, and aims to boost the economy and improve quality of life.

What is the significance of broadband as described in the text?

What will be the role of 'British broadband' in the proposed plan?