Well, Visual Basic (.Net) 2005 Express that is.
It was announced some time ago that Microsoft SQL Server 2005 Express Edition would be free (MS's attempt way to counter MySQL, FireBird and all the other free database engines).
Now Microsoft is giving away the Express Editions of Visual Studio free for one year.
Of course there is a catch - these development tools will only run on Windows 2000 SP4, Windows XP, Windows Server 2003 and Windows Vista (previously known as Longhorn).
The free Visual Studio Express products which are available are:
Visual Web Developer 2005 Express Edition
Visual Basic 2005 Express Edition
Visual C# 2005 Express Edition
Visual C++ 2005 Express Edition
Visual J# 2005 Express Edition
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