No analysis and no satire, I know, but I just want to say to as many people as possible right now that this policy is so wrong on so many levels that I can scarcely believe that it’s being proposed:

More than 100,000 people could get onto the property ladder in the next five years thanks to a part-ownership plan, Chancellor Gordon Brown has said.

Buyers would have to raise as little as half the cost of homes sold on the open market, he said.

The remaining equity in the house would be shared by the government and the bank or building society.

It’s Labour’s Black Wednesday in the making. To hear a Chancellor use the dread Ponzi scheme phrase “property ladder” chills me through. God help us all.