4G windfall to finance new homes

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Money made from the sale of 4G licences should be used to help first-time buyers, Shadow Chancellor Ed Balls says

Labour has said the money made from the sale of 4G licences should be used to build 100,000 affordable homes over the next two years.

Shadow Chancellor Ed Balls is expected to say in his speech at the Labour party conference today that the expected £3-4 billion from the auction of 4G spectrum should be used to help first time buyers – through the building of new homes and by offering a stamp duty ‘holiday’.

The auction, which will see slices of the 800MHz and 2.6GHz spectrum bands fought over by O2, Vodafone, Three and EE, is expected early next year.

Operators are expected to dig deep as the spectrum will help them provide the latest mobile services.

Gordon Brown used the sale of 3G licences, which brought in £22 billion, to clear some of the UK’s debt.

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