There are certainly good waterproofs out there, and definitely a good few under yur set budget there Dave. Just a case now simply of looking about online a bit to see what takes your fancy at a good enough price really.Check out the clothing sales at Field and Trek for starters maybe.
Welcome to OM forum by the way. A pleasure to be the very first to welcome you here too btw.
As my good colleague has said with outstanding advice again. Just trawl the internet and you'll find many bargains well within your range.
I would have to say that the Lim ultimate is very specialised in that its a lightweight waterproof that may only come out when needed but this may serve your purpose.
I have a Montane Venture, 3 layer event fabric. Had it for over 2 years now and these can be picked up for about £80 (i've seen this but can't find it at the moment). It is the 2007 model not 2008 but there's no real difference other than colour. Initially they were just black or blue but now they have others.
I think you need to decide on a style of jacket, i.e. Full zip, half zip, helmet compatible hood, pit zips and then materials. Goretex, event, own brand proofing material and this should help you narrow down the types available.
Thanks for the considerate advice, since i will be carry in most of the weight and the baby, i am aiming for low weight and having a jacket for emergency, its the weather is too bleak I AM STAYING PUT!
If its not to late pop into your local Blacks store and see if they have any of their "own brand" Technical waterproofs in the very breathable Event fabric. The cheapest is reduced by 50% from £150 to £75.00. Same fabric as the rab drillion.
Another Montane waterproof jacket to consider is the atomic. It packs down really small and is totally waterproof, windproof and highly breathable. I have been testing lots of Montane kit in advance of stocking a wide range in my shop and so far have been very impressed. The atomic is ideal for your cycling and is currently my choice of summer waterproof jacket for cycling to work.
Thanks everyone. Amazingly, my wife had told a neighbour of this posting, who replied, well we have a spare jacket, I am now the proud owner of Spray wear, hydro dry luminious orange jacket. Its about 10 years old but looks new.
It doesn't meet my exact requirements but will do for now, I am also a wiser person and thanks for the replies, very much appreciated