Will home seller packs start a recession?

The Labour government love to add bureaucracy to everything they can - but their latest wheeze, the home seller pack, could trigger an economic crisis in the UK.

Government ministers have reportedly ordered an urgent review of John Prescott's pack project.

Home sellers will have to pay around £1000 to produce a file of information on their house before they can put it up for sale - and pay a £200 fine if they refuse.

The new packs will say nothing about the state of a house's electrical installation or possible subsidence, and so is not fit for purpose. Home buyers will also have to pay for their own checks.

If the UK's housing market seizes up after the introduction of the Prescott pack, the main driving force for the UK's economic growth in recent years will slow down - causing an economic crisis.