Emma Reynolds
Main Page: Emma Reynolds (Labour - Wolverhampton North East)Department Debates - View all Emma Reynolds's debates with the HM Treasury
(11 years, 6 months ago)
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Chi Onwurah (Newcastle upon Tyne Central) (Lab)
10. If he will use the revenue received by the Exchequer from the forthcoming auction of the 4G mobile telephone spectrum for the purpose of building affordable homes over the next two years.
Emma Reynolds (Wolverhampton North East) (Lab)
11. If he will use the revenue received by the Exchequer from the forthcoming auction of the 4G mobile telephone spectrum for the purpose of building affordable homes over the next two years.
Gordon Banks (Ochil and South Perthshire) (Lab)
12. If he will use the revenue received by the Exchequer from the forthcoming auction of the 4G mobile telephone spectrum for the purpose of building affordable homes over the next two years.
Danny Alexander
I recognise the concerns that the hon. Lady and other MPs have about the provision of housing in their own constituencies, and that is precisely why, on 6 September, we announced, among other things, the availability of up to £10 billion of Government guarantees for housing associations—precisely to enable them to build more affordable housing.
Emma Reynolds
In the last quarter, there was a 2.5% contraction in the construction sector, and since the Government came to power 119,000 construction jobs have been lost. Why, therefore, do the Government not take their own advice, cut through the dither, sell off 4G, and use the money to construct 100,000 affordable homes and create 150,000 jobs?
Danny Alexander
The Department is getting on with the sale of 4G as quickly as possible, but the hon. Lady should be a bit wary about the policy she is promoting. For a start, it is based on assuming that we continue with the Government’s affordable rent policy, which her colleagues oppose, but without it the costs would be a great deal greater. Also, I think she is proposing to reverse the £600 million investment in science policy, which we have already committed to from this fund.