Money raised from selling off the 4G mobile phone spectrum next-year should be used to build a new wave of affordable housing, Morley and Outwood MP Ed Balls said today.
The Shadow Chancellor told Labour's autumn conference there was an "urgent" need to kick-start the economy and claimed the £3-4 billion raised from the 4G sale could build more than 100,000 affordable homes and help create hundreds of thousand of jobs.
Mr Balls also called on the Government to give a temporary stamp duty holiday to first-time home-buyers to revive the sluggish housing market.
The Conservative Party claimed there was a £2 billion "black hole" in the spending proposal, with £600 million of the proceeds already allocated by the coalition.
But Labour insists that Government answers to Parliamentary questions show no spending commitments have yet been made.
More reaction to the house building plan: