The post you are reporting:
Tom, your point to the John Redwood article: "he is stuck way behind the times. Housing transactions and house price inflations were very much part and parcel of the crisis":
it is possible that the Chancellor, in 2010, calculated his visionary tax-intakes on the pre-financial crisis figures, as they stood prior to 2008, forgetting that there had been, meanwhile, a property bubble.
The problem is, this property bubble has not burst in the UK, where house prices and rent are still artificially high.
But perhaps Osborne banked on the property market rising in value even further, with even more hyped inflation on house prices.
George Osborne is the most extraordinary chancellor we have ever had, so no surprise should be too great!