The ban on Huawei will delay the UK's full rollout of 5G by two to three years and the transition to an alternative will cost "up to £2 billion".
Tech expert Matthew Howett has estimated the delay's cost to the economy to be as much as £6.8 billion "in terms of lost benefit".
"It's about attracting new industries and new investment from manufacturers that want to take advantage of the 5G capability - all that gets lost if you slow us down," he said.