4G Auction Could Fund 14,000 New Homes in the South-East

Southampton’s Labour MPs Alan Whitehead and John Denham are calling on the government to back a plan to build thousands of new affordable homes to boost the economy and create thousands of new jobs.

Labour says the government should use the £3 billion expected to be raised from the forthcoming auction of the 4G mobile phone spectrum to:

  • fund the building of 100,000 new affordable homes across the country including 14,078 in the south-east
  • and back people aspiring to own their own homes by introducing a two-year stamp-duty holiday for first time buyers purchasing properties worth up to £250,000.

John Denham MP said:

“With our economy flatling over the last year and unemployment in Southampton too high, we need urgent action to kick-start the economy and create desperately needed new jobs.

“The government should use the funds raised from the 4G auction to put something back into the economy, build thousands of much-needed affordable homes and help first-time buyers. It would also help create thousands of new jobs and apprenticeships in the construction industry and the supply chain too.

Alan Whitehead MP said:

“Around 14,000 new affordable homes – to buy and to rent – could be built in the south-east with Labour’s plan. The National Housing Federation says this could create up to 21,400 jobs in construction and 85,700 in the wider supply chain.

“Southampton has been hit hard by the Ford closure announcement- this is exactly the kind of stimulus we need to get the local economy going again.”

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