Invest 4G funds in affordable housing, says Ed Balls

Labour’s shadow chancellor Ed Balls has said that the billions of pounds raised from selling the 4G mobile phone spectrum should be used to boost the housing market.

Speaking at Labour’s annual conference in Manchester on 1 October, Balls said that the windfall of up to £4 billion that the government is expecting from the sale of the 4G mobile phone spectrum should be used for 100,000 new homes and a stamp duty holiday for first time buyers buying homes up to £250,000.