§ 35. Dr. Glynasked the Chancellor of the Exchequer whether he will consider allowing mortgage interest payments on an owner-occupier's sole or principal home to be paid net of income tax in order to assist borrowers and to allow the real cost of the mortgage to be apparent.
§ Mr. NottMost borrowers of course obtain immediate tax relief on their interest payments through the PAYE system. However the Select Committee on Tax-Credit recommended that a treatment broadly similar to that suggested should apply when the tax credit scheme is introduced. I am considering this recommendation and in the meantime I will certainly keep my hon. Friend's suggestion in mind.