§ Mr. George Cunningham
asked the Chancellor of the Exchequer what is his estimate of the amount of tax forgone in respect of relief on interest paid for house buying and improvement by those taxpayers whose income is such that without the relief some part of their incomes would attract tax at a rate higher than basic rate.
§ Mr. Robert Sheldon,
pursuant to his reply [Official Report, 25th October 1976], gave the following information:
The estimate for 1976–77 is about £350 million, of which £120 million is relief in excess of the basic rate of tax.