For the worst-crafted, most ineffectual policy of this election campaign it would be hard to go past Rich Uncle Albo’s shared equity housing scheme. (And I use the word ‘rich’ advisedly, because it’s your taxpayer money he’s using to flirt with the housing affordability vote.)

This scheme will put up to $380,000 in equity into the bidding hands of a lucky 10,000 Australian would-be house owners each year who do not own any other property and whose income is $90,000 pa (or less in the case of singles) and $120,000 in the case of couples.