§ Mr. Douglas-Mannasked the Chancellor of the Exchequer what estimates he has made of the likely changes in the cost to the Exchequer of tax relief on qualifying interest on loans for purchase or improvement of owner-occupied etc. property at 1979 survey prices for the years 1980–81, 1981–82, 1982–83 and 1983–84; and whether he will indicate the reasons for anticipated changes.
§ Mr. Peter Rees[pursuant to his reply, 19 May 1980, c. 43]: The estimated cost at income levels and tax rates and allowances for 1980–81 is about £1,980 million. The cost for later years will depend on real interest rates and on income levels and the tax rates and allowances applying in these years.