Not for the first time, the telecoms carrier expressed interest in replacing its copper-based telephone and broadband network with fibre.

From next month, the company will meet with ministers and regulators to discuss potentially investing in a £10bn optical network, earmarked to offer broadband speeds of up to 100Mbps.

But Ian Livingstone, head of BT Retail, also told the Financial Times that the “economics have to be right” before it will consider investing in a 21st century broadband network.

His reported comments come after the government said it would consider public sector investment in broadband to stop the UK losing its position in the global economy.

Mr Livingstone said: “BT remains very interested in further expanding the speed of access for customers, whether that be through faster copper, fibre to the home, [or] fibre to the cabinet".

And according to a new broadband study obtained by the Daily Telegraph, BT’s willingness to seriously explore fibre optic technology is needed now more than ever.

Commissioned by the Information Technology Innovation Foundation, the study shows only six out of 23 nations in Europe have slower connection speeds than the UK.

On average, Britain relies on broadband speeds of 2.6Mbps, compared with 2.8Mbps in Slovakia and 21.7 Mbps in Finland, where monthly access is half the price available in the UK.

Despite the urgency, BT has pointed out that not even Stephen Timms, competitiveness minister, believes the UK’s regulatory environment currently allows a fibre-based network.

Moreover, the telecoms company has reportedly disputed the price tag of the ultra-fast network, saying it is likely the real cost would be upwards of the estimated £10bn.