§ Mr. Cartwright
asked the Chancellor of the Exchequer what is his estimate of the savings which would result if tax relief on mortgage interest were limited to the standard rate of income tax.
§ Mr. Ridley
The increased tax yield in a full year at 1981–82 income levels is estimated at about £155 million. The estimate takes into account the rise in mortgage interest rates in November 1981 and assumes no further changes will occur before the end of the financial year.