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Ed Balls: 4G sale would pay for stamp-duty holiday and affordable housing

Labour Shadow chancellor Ed Balls will today propose using the proceeds from the £4bn sale of 4G mobile phone licenses to pay for 100,000 affordable homes and a tax break for first-time buyers.

Addressing the Labour party conference in Manchester today, Balls will say the £3bn – £4bn expected to be raised from the sale of the licenses next year should be used to fund a £500m, two-year stamp duty holiday on houses sold for up to £250,000.

The 4G money would also be used to boost the provision of shared ownership, affordable rent and social rent homes under Labour’s plans.

Balls (pictured) will say: “With this one-off windfall from the sale of the 4G spectrum, let’s cut through the dither and rhetoric and actually do something. Not more talk, but action right now.

“Let’s commit that money from the 4G sale and build over the next two years 100,000 new homes – affordable homes to rent and to buy – creating hundreds of thousands of jobs and getting the construction industry moving again.

“Add to that a stamp duty holiday for first-time buyers, and we can deliver real help for people aspiring to get on the property ladder. A clear and costed plan to kick-start the economy and get people back to work. Building the homes that we need now and for the long-term. A vital step forward in renewing Britain’s long-term infrastructure. Building our way out of recession and re-building Britain for the future.”

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Comments

There are 5 comments at the moment, we would love to hear your opinion too.

  1. How about the next time buyers!!! If the next time buyers had a break it would leave the smaller cheaper properties free for the first time buyers to purchase.

  2. How about no more tax payers money. How about house prices reaching a level where first time buyers can afford to buy their first house,without taking on eye watering amounts of debt. Of course spraying all this money at the housing market is to keep those who borrowed huge amounts of money to buy something that they could not afford in their house whilst keeping the price of houses prohibitively high to keep the vested interested parties rich at the expense of the young and future tax payers. Sickening Loathsome!

  3. Richard Whitaker 1st October 2012 at 9:59 am

    It will be interesting to see if bidders think they can make any money from 4G

  4. Hello Playmates!

    Winning bidders for 4G licences pay HM Treasury for the privilege of running a business = more expensive phone/Internet charges = consumer has less money in their pocket.

    Talk about bribing people with their own money!

    What a Balls-up!

    Cheery bye, my Lovelies!

    Larrykins xxx

  5. You can see now how Laboured managed to cause this economic mess

    They are yet again trying to hyper inflate the price of houses and give loans to people that can ill-afford them

    THAT IS WHAT CAUSED THE BANKING CRISIS/ECONOMIC MESS IN THE FIRST PLACE!!!

    I beg you people do not vote these idiots back in.

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