I suppose it's probably a very long time since The Ragged Trousered Philanthropists was required reading for a Labour minister. And maybe my initial calculations are wrong on the "budget"...

But am I right in thinking that those of us who labour all our lives but can't afford to buy a home are now going to be paying more in tax than the rack landlord on his buy to let investment he's fleecing us to occupy? In another era even the most liberal of economists would have recognized this as robbery of the returns to labour.

Nice one Dahling! New Labour, New Rentier.