HC Deb 22 July 1974 vol 877 c355W
Mr. Pardoe

asked the Chancellor of the Exchequer if he will estimate the net gain to public funds of limiting mortgage interest relief to the basic rate of tax assuming an upper limit of £25,000 on mortgages eligible for such relief.

PUBLIC SECTOR
£ million
Current Receipts Current Expenditure Current Surplus
Year Budget estimate Out-turn Budget estimate Out-turn Budget estimate Out-turn
1966–67 14,438 14,195 11,771 12,105 2,667 2,090
1967–68 15,546 15,725 13,114 13,579 2,432 2,146
1968–69 17,800 17,810 14,454 14,550 3,346 3,260
1969–70 19,979 19,968 15,439 15,363 4,540 4,605
1970–71 21,950 21,778 16,657 17,006 5,293 4,772
1971–72 23,401 23,567 18,833 19,395 4,568 4,172
1972–73 24,614 25,135 21,462 21,974 3,152 3,161
1973–74 27,633 28,406 24,410 25,849 3,223 2,557

Differences
1966–67 -243 + 334 -577
1967–68 + 179 + 465 -286
1968–69 + 10 + 96 - 86
1969–70 - 11 - 76 + 65
1970–71 -172 + 349 -521
1971–72 + 166 + 562 -396
1972–73 + 521 + 512 + 9
1973–74 +773 + 1,439 -666