A PLAN FROM MR BALLS

It was interesting to hear Ed Balls announce on Sky News this morning that as well as putting the tax rate back up to 50p for the rich, (A question he refused to answer yesterday when he was asked directly by George Osborne during the Autumn statement) that Labour, if and when, they are ever asked to form a government; in a move to kick-start the economy, they would take the one-off income from the next generation (4G) mobile phone licences and build 100,000 affordable homes!

But as usual with Ed Balls, he did not expand on the plan.

The problem is, 'affordable homes', aren't affordable to people on the minimum wage! It’s been calculated that anyone wishing to buy a new house, would have to save £250 a month for 8 years, just to put down the deposit!

Then there’s the question of the mortgage. People will not be granted a mortgage if they are unemployed!

However, if he meant building ‘social housing’, or, in other words, ‘council housing’, then the sooner, the better.

100,000, council houses would mean more employment, guaranteed income/return on investment for local government, reduced pay-outs in housing benefits, lower housing costs for all, lower mortgage payments, less credit in society and greater social integration. But of course that was needed in 1997 when they first came to office; and the need increased when Labour had its immigration frenzy. Why didn’t Ed Balls announce the policy then? Labour said many things in 1996 in the run-up to the election, like free education and then of course at a time of plenty decided to charge students, charge for prescriptions, they even thought about charging for GP's…

Labour rely on the fact that voters have short memories, so all these announcements and promises of milk & honey are all very well, but with the next general election two and a half years away; it would take many years build 100,000 houses.

The economy needs growth now!