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The shadow chancellor, Ed Balls, has unveiled plans to
stimulate the economy by using a £3bn windfall from the sale of the 4G mobile
phone spectrum to build 100,000 affordable homes, rather than to reduce debt,
should Labour win the next election. He
said that it is time to "cut through the dither and rhetoric and actually
do something". The move is
politically bold since polls still show voters are anxious that Labour will not
be tough enough to rein in spending. The 4G sale is due to take place next
year, and Balls's choice reflects his belief that George Osborne is losing the
argument over how best to deal with the deficit. Read more on the Guardian website.
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