§ Mr. Maddenasked the Chancellor of the Exchequer how many recipients there were of tax relief on bank loan interest for house purchase loans with total net incomes, respectively, for 1974–75 or the latest year for which the information is available, below £2,000, £2,000–£3,000, £3,000–£5,000, £5,000–£10,000, £10,000 and over.
§ Mr. Robert SheldonThe number of recipients of tax relief on bank interest for house purchase loans, excluding bridging loans, for 1974–75 is estimated to be about 200,000. I regret that the information on which to base estimates of the numbers by income range is not available.
§ Mr. Maddenasked the Chancellor of the Exchequer what level of tax relief has been granted each year since 1970 on bank loan interest for purposes other than house purchase loans; how this was apportioned as between different income levels; and how many recipients there were at each of these income levels.
§ Mr. Robert SheldonIt is estimated that the amount of relief for 1972–73 is about £20 million and for 1973–74 about £40 million; no information is available about the distribution by income levels. It is not possible to make estimates for the other years, when, apart from transitional provisions, relief was available only on lending for a limited class of
472Winterest for the corresponding years 1969 to 1975; and what were the standard rates of income tax for those years.
§ Mr. Robert SheldonThe information is as follows:
purposes; but apart from relief under transitional provisions the amounts are likely to be relatively small. Relief for business interest is allowed separately.