REBUILDING THE ECONOMY: Calling for housing action

Labour call for 100,000 houses to be builtThis week at Labour Party Conference Andrew has joined calls from Ed Balls MP, Labour’s Shadow Chancellor, to take action to kick-start the economy, create jobs and get the deficit down.

Andrew has also supported calls that Sir John Armitt, the Chair of the Olympic Delivery Authority, will undertake a review to consider how long-term infrastructure decision-making, planning, delivery and finance can be radically improved.

Building on Labour’s five point plan for jobs and growth announced at last year’s conference, Ed Balls has called for 100,000 more affordable homes to be built. This would help to kick-start the economy and create hundreds of thousands of jobs, alongside a two-year stamp duty holiday for all first time buyers purchasing properties up to £250,000.

The plan should be funded using the £3 billion to £4 billion expected to be raised from the forthcoming auction of the 4G mobile phone spectrum. Using the lower estimate of £3 billion would allow 100,000 affordable homes – a mix of shared ownership, affordable rent and social rent – to be built at a cost of £2.5 billion and the two-year stamp duty holiday at a cost of around £500m.


Andrew Gwynne MP said:

“It is clear that David Cameron and George Osborne’s failing plan is leading to no growth, high unemployment and rising borrowing to pay for costs of economic failure. They need to take action now to stimulate the economy and bring us out of the recession that was made in Ten Downing Street.”

 

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