§ 19. Mrs. Sally Oppenheim
asked the Chancellor of the Exchequer if he will consider doubling the taxation relief to first-time buyers earning less than £4,000 per annum on mortgage repayments where the interest is in excess of 8 per cent. and the value of the property is less than £15,000.
§ Mr. Barber
My hon. Friend's proposal amounts to an extra subsidy from other taxpayers to first-time home-buyers. I cannot agree to this, but I expect the proposed selective scheme based on deferred mortgage payments to provide a good deal of help.