§ Mr. Denzil Davies
asked the Chancellor of the Exchequer what is the cost in lost revenue of allowing (a) mortgage interest and (b) life assurance and pension contributions to be charged against income.
§ Mr. Peter Rees
, pursuant to his reply [Official Report, 21 June 1979], gave the following answer:
Estimates for a full year at 1979–80 income levels and taking into account the Budget proposals are as follows:
£ millions Mortgage interest 1,400 Life assurance (premium relief by deduction 415 Pension contributions 800