Was Help to Buy a timely market intervention with a valid social purpose or a political gimmick that unintentionally showered housebuilders with taxpayers’ cash? Or both: this isn’t a straightforward question.

‘This government supports those who dream of owning their own home,’ said a statement from Philip Hammond last week. So far the ‘equity loan scheme’ launched by George Osborne in 2013 and now extended until 2023 has underpinned 194,000 home sales, the great majority to first-time buyers in the provinces, while another 300,000 have been supported by a £3,000 savings top-up.