BREAKING NEWS

UK's Labour urges government to spend 4G money on new homes

By REUTERS

OCTOBER 1, 2012 01:55

MANCHESTER - Britain's opposition Labor Party will on Monday urge the government to build its way out of recession, using funds from the sale of the mobile phone spectrum to pay for more than 100,000 cheap homes and a stamp duty freeze for first time house buyers.

Labor's finance spokesman Ed Balls warned there would be no "post-election spending spree" if the opposition party won the next election in 2015 and ruled out any pledges to reverse specific tax rises or spending cuts, instead promising to evaluate all spending across government departments.

Britain's Conservative-Liberal Democrat coalition government, slashing spending to reduce a record budget deficit, has faced criticism for not doing enough to drag the economy out of recession.

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