Simon Jack

He also instituted a prize for African leaders who stood down rather than cling on to power. Fascinating story.

Just saw Fatherland. Film about Thomas Mann journey to post war, creeping Stalinist east Germany in 1949 with his daughter played by the always superb Sandra Huller. Only 80 mins long but creates amazing and memorable atmosphere with beautiful photography. Worth a watch IMHO.

Tax raid on landlords and savers

The Chancellor has imposed an additional 2% tax on income derived from savings and property rental.

At the moment basic rate tax payers are allowed to earn up to £1000 tax free and thereafter pay 20% tax on savings income. That will go up to 22% from April 1st next year. Higher rate tax payers can earn £500 tax free and theerafter pay 40% on savings income - which will rise to 42%. The measure is forecast to raise £590 million a year by 2013.

The government is also imposing a 2% rise in any income from property rental. The measure is forecast to raise £455 million a year by 2031.

However, savings in ISAs will remain tax free.

The Chancellor was keen to stress that there would be no tax rise on income from other investments like share dividends - making it clear that the government would prefer savers to invest in what it considers more productive, growth boosting assets than property and savings deposits.

Additional taxes on landlords could of course be passed on to renters.

Chancellor - "I am increasing the rates of tax on income from property and savings by a further two percentage points from April 2027, With no change to tax on income from dividends and tax on income from employment." Wants UK to invest less in property and cash deposits and more in productive assets.

Get your money out of property and into something more productive seems to be the message from the Chancellor who added an extra 2% tax on rental income. Alex Foster at Blick Rothenburg described the move as "the final nail in the coffin for private investors in rental properties".