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@NickCJ
I'm a little more optimistic than that. I'm generally not a fan of BtL, given the amount of excess debt and equity it has channelled into the housing market over the last 20 years or so. The biggest effect has been to push up capital values by grinding yields tighter. In that context anything that encourages people to put their savings in another asset class by reducing the relative attractiveness of BtL is a Good Thing.
Accumulating wealth by being on the right side of a leveraged bet on the housing market is not what I'd call 'hardworking'.
For sure you need a certain amount of rental product, but the German model where you have enormous (€10bn +) professional landlords seems superior to me.