§ Mr. Norman Lamontasked the Chancellor of the Exchequer what has been the increase in the retail price index since the £25,000 limit on mortgages qualifying for tax relief was introduced; and whether he will now consider increasing this amount.
§ Mr. Robert SheldonSince 26th March 1974, when the £25,000 limit became effective, the retail price index has increased by 64 per cent. The limit is required to be reviewed each year in the light of relevant price changes and included in the Finance Bill proposals.