John Healey started his Budget as Chancellor by declaring it one 'for the working people of Britain.'

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But on closer inspection, it does little to help those workers with one of their most important concerns: housing.

For a start, savings interest will be taxed an additional two percentage points from April 2027, harming those saving for a home.

Rental profits will also be taxed an additional two percentage points. This comes on top of an identical rise announced by Rachel Reeves last year, due to take effect in April next year. For a basic-rate landlord, this means handing over 24% of rental profit to HMRC, up from 20% today.

This continues Labour’s self-defeating villainisation of private landlords. Most landlords in Britain are everyday people who own a small number of properties, such as a couple who choose to invest in property rather than a volatile pension.

Left-wing populists like to pretend that what is bad for landlords must be good for renters and first-time buyers. But........

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