§ Mr. Gordon Brownasked the Chancellor of the Exchequer if he will provide a table showing the cost of mortgage interest tax relief for each year since 1964 at 1985 prices.
§ Mr. Moore[pursuant to his reply, 10 May 1985, c. 534]: Information is given in the table. The figures for years up to 1968–69 include the cost of relief for qualifying interest paid on bank loans, which cannot be distinguished from mortgage loans in information available centrally. The figures for 1983–84 onward include the cost of relief in respect of mortgages previously under the option mortgage scheme.
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ERM currencies 1983 1984 1985 April 1985* Deutschemark January-September; November-December January; November-December January-March April French franc January-May; August-September; November-December January; November-December January-March — Lira January-March — January-February — Belgian franc January-December January-February; December January-March April Dutch guilder January-September; November-December January; November-December January-March April Danish kroner January-May; July-September; November-December January-February; October-December January-March April Irish punt January-May; August-September: November-December January-February; November-December January-March * Using the December 1982 notional fluctuation margins.
Estimated revenue cost of mortgage interest relief £ million at 1984–85 Prices* 1963–64 590 1964–65 700 1965–66 810 1966–67 900 1967–68 1,020 1968–69 1,050 1969–70 1,200 1970–71 1,360 1971–72 1,360 1972–73 1,490 1973–74 1,890 1974–75 2,200 1975–76 2,250 1976–77 2,400 1977–78 2,000 1978–79 1,950 1979–80 2,200 1980–81 2,550 1981–82 2,400 1982–83 2,350 1983–84 †2,900 1984–85 †3,500 * This column has been expressed in 1984–85 prices using the retail prices index. †Provisional.