§ 25. Mr. Michael Spicerasked the Chancellor of the Exchequer whether he will seek to amend the Finance Act 1974 so as to enable those who by the nature of their work are compelled to live in staff quarters—for example, prison officers—to obtain tax relief on the mortgage of one house which they are buying for their own future occupation, particularly on retirement.
§ Mr. Denzil DaviesIn cases of this kind the owner can obtain tax relief under the existing law by letting the house commercially until he is ready to occupy it as his main residence; the mortgage interest is allowed against letting income.