However, many have slammed the target as lacking ambition in providing Blighty with a globally competitive digital infrastructure.
Speaking a breakfast briefing at the Salesforce World Tour event in London, Vaizey said the target was already twice as high as the universal service obligation for the rest of Europe.
"We will keep under review, we do not want to leave people on 10Mbps in 10 years' time when they might need 100Mbps," he said.
He also said plans to overhaul the electronic communications code to give mobile networks new rights to access land and deploy mobile phone masts represented an "exciting" opportunity to build infrastructure.
It is hoped that such a move will remove some of the planning objections which have previously slowed 4G rollout, such as the government's embarrassing mobile infrastructure project which fell substantially short of its target to bring mobile coverage to 60,000 homes in "not spots" by erecting masts.
On the subject of the controversial Investigatory Powers Bill, the minister said: "Clearly we have had this debate in terms of encryption and security for a while.