Sep
01
2010
Ed Balls: £12bn windfall 'should be used to aid building contractors'
Posted by John Crawley
Construction contractors with umbrella companies should benefit from an extra £12 billion in government funding, Ed Balls has suggested.
The Labour party leadership candidate believed that by using this money to fund for the building of new homes, contractors would be able to find more work.
He predicts that that at least 100,000 affordable homes can be developed around the country, which would mean that 750,000 builders would be required, including those associated with an umbrella company.
This latest figure comes about from the news that the UK only borrowed £155 billion between 2009 and 2010, which is £12 billion less than Alistair Darling's March Budget forecast.
Mr Balls, who is in the running for the Labour leadership, along with Diane Abbott, Andy Burnham and brothers David and Ed Miliband, believes this money could aid the current economy.
He said: "I think that at a time when the economy is still so fragile and other countries are already tipping back into recession, we should instead use that money to boost construction jobs and build new homes."
Construction contractors with umbrella companies should benefit from an extra £12 billion in government funding, Ed Balls has suggested.
The Labour party leadership candidate believed that by using this money to fund for the building of new homes, contractors would be able to find more work.
He predicts that that at least 100,000 affordable homes can be developed around the country, which would mean that 750,000 builders would be required, including those associated with an umbrella company.
This latest figure comes about from the news that the UK only borrowed £155 billion between 2009 and 2010, which is £12 billion less than Alistair Darling's March Budget forecast.
Mr Balls, who is in the running for the Labour leadership, along with Diane Abbott, Andy Burnham and brothers David and Ed Miliband, believes this money could aid the current economy.
He said: "I think that at a time when the economy is still so fragile and other countries are already tipping back into recession, we should instead use that money to boost construction jobs and build new homes."