§ Dr. McDonald
asked the Chancellor of the Exchequer what would be the saving to the Exchequer if mortgage interest tax relief were set at 17.5 per cent.
§ Mr. Moore
[pursuant to his reply, 18 November 1933, c. 596.]: The revenue yield from restricting the relief to 17½ per cent. would be about £1,200 million in a full year at estimated 1983–84 levels of mortgage interest payments. This estimate does not allow for any change in the housing market that might result from such an alteration in relief.