Oral Answers to Questions
Debate between Alex Cunningham and Lord Foster of Bath
The Parliamentary Under-Secretary of State for Communities and Local Government (Mr Don Foster)
As the 4G auction has not yet taken place, we do not know what the total amount of generated revenue will be, but hon. Members should be aware that £600 million has already been allocated from the fund for science and innovation. We are making great progress in the development of affordable housing, and we hope to have 170,000 more affordable homes over the period, with £19.5 billion of investment.
Alex Cunningham
If the Government did the right thing, the cash could pay for 100,000 social and affordable homes, cut homelessness, create nearly 600,000 jobs, make a major contribution to the economic recovery and help rescue Ministers from their appalling house-building record. Will the Minister stand up to the Chancellor and demand the cash?
Mr Foster
No, what I will do is ask the hon. Gentleman where he thinks the £2.5 billion will come from, given that Ofcom put out a press release today saying that it expects the amount raised to be roughly £1.3 billion; remind him that we have already allocated £600 million of the sum; and point out the rather bizarre situation in which the press release to which he refers says that a third of the revenue will be used for affordable rented homes, whereas the hon. Member for Birmingham, Erdington (Jack Dromey),on the Labour Front Bench, says that the Labour party is against them.