§ Mr. Austin Mitchellasked the Chancellor of the Exchequer whether he will bring up to date the information on mortgage interest qualifying for relief as shown in the reply dated 18 December 1979, Official Report, c. 133–4, to the hon. Member for Grimsby.
§ Mr. RidleyInformation on the numbers receiving mortgage interest relief was supplied to the hon. Member in my reply of 20 April—[Vol. 22, c.62]. Estimates for 1982–83 of the average amount of qualifying interest and the average additional net cost of a percentage point increase in interest rates are given below.
Mortgage interest 1982–83 Range of total income Average per mortgagor of mortgage interest qualifying for relief Average per mortgagor of additional qualifying interest, net of tax relief, for a percentage point increase in interest rates £ £ £ Under 5,000 795 45 5,000– 7,500 950 50 1,500–10,000 1,060 55 10,000–12,000 1,100 55 12,000–15,000 1,210 65 15,000–17,000 1,440 75 17,000–20,000 1,550 70 20,000–30,000 1,890 80 over 30,000 2,250 70 All ranges 1,150 60