You couldn't make it up. A Chancellor who is happy to see those with the least income lose most, yet with the same stroke of his pen, gives those who are already fortunate in life another bung. You wonder why, during these straightened times, this could possibly be a priority... This inheritance tax cut is wrong, not just because we can't afford it, but also because it does absolutely nothing to give those children least likely to succeed a fair crack of the whip. The Labour party I will lead would never support such a decision, and I'm calling on Labour to table relevant amendments to the finance bill to make this clear.
If you have any lingering doubts about the difference the Liberal Democrats made in government over the last five years, the Budget policies announced by George Osborne this afternoon should dispel them. Just look at the choices Osborne makes without Nick Clegg and Danny Alexander to push him in another direction. At a time when 6.6million people in working families live in poverty, he's hitting some of the poorest and most vulnerable - and, incidentally, hardest-working - families by freezing working-age benefits, which amounts to a real terms cut of 11% over four years.
This massively unequal allocation of wealth is a dire problem for liberal societies because it directly impedes social mobility. By perpetuating a system whereby those at the top continue to accumulate assets with little to no redistribution, you are contributing to a world whereby the poor get poorer.
You struggle, scrimp and save, and battle against all the odds to somehow obtain that illusive dream of homeownership...your very own piece of Britain. But as a nation we are under siege, surrounded by an invading army waiting to steal away that which we worked so hard to achieve. This grim hoard hails from the land of HMRC and its army is inheritance tax...
What, can we hope for from the Chancellor today? At the very least, it seems likely that he will underline the importance of getting business lending flowing. But there's some hope that we won't have to wait until November's statement for a more definitive move on bank lending. Britain's businesses are watching.