Shadow chancellor Ed Balls has called for the building of 100,000 affordable homes that will boost the economy and create hundreds of thousands of new jobs in the construction industry.  

Today’s announcement comes as the shadow chancellor used his keynote speech at the Labour Party Conference in Manchester to demand radical measures to kick-start the economy and increase infrastructure spending.

Ed Balls said that a windfall of up to £4 billion is to come from the sale of the 4G mobile phone spectrum. This money could be used to fund the building of more affordable homes which will boost the trades and help people get on the property ladder.

Mr Balls said: “Let’s use 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 our construction industry moving again.”

According to the shadow chancellor, plans to boost long-term investment and skills are the only way to rising living standards and getting people into employment.

He said: “Conference, a clear and costed plan to kick-start the economy and get people back to work is to build the homes  that we need now and for the long-term, building our way out of recession and re-building Britain for the future.”

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