George Osborne has made his own ‘dangerous cocktail’ of economic risk

When David Cameron said this week that he is worried his children would not be able to afford to buy their own homes, he struck on one of the greatest economic problems of his premiership. The old British promise is that if you work hard and make the right decisions, you can advance in life and own your own home. This is the ladder that most aspire to climb. But for an entire generation, even the hope of home ownership is slipping out of view. A huge number of young Britons cannot hope to have the kind of life their parents enjoyed.

The Prime Minister must know he is on dangerous ground here. His own children, of course, will not have to worry — just as he did not have to worry. A fat handout from the Bank of Mum and Dad will be available to help the young Camerons raise a deposit for their first homes.