§ Mr. Austin Mitchell
asked the Chancellor of the Exchequer (1) whether he will bring up to date the information concerning the number of taxpayers qualifying for mortgage interest published in the Official Report on 25 July 1985, columns 727–28, in reply to the hon. Member for Great Grimsby;
Advances for all purposes net of repayments Gross advances for all purposes Of which gross advances for dwellings Total estimated purchase price of dwellings on which advances in C were made C as per cent, of D (A) £ million (B) £ million (C) £ million (D) £ million (E) per cent. 1984 14,572 24,034 21,537 31,200 69.0 1985 14,321 26,223 23,038 33,100 69.6 Sources: Financial Statistics—Table 7.6 Housing and Construction Statistics—Table 1.9 and 1.13
Following the introduction of the arrangements for giving mortgage interest relief at source from April 1983, it is no longer possible to estimate the distribution of mortgage interest relief from tax records (except for relief on mortgages outside the scope of MIRAS and relief given at rates in excess of the basic rate). Some estimates of the distribution of mortgage interest relief can be obtained from alternative sources, such as the family expenditure survey, but the sample sizes do not permit reliable estimates to made in the detail requested.468W
(2) whether he will bring up to date the information concerning mortgage interest relief published in the Official Report on 18 July 1985, column 258, in answer to the hon. Member for Great Grimsby.
§ Mr. Norman Lamont
Revised aggregate figures for 1984, and estimates for 1985, are given in the table. The average cost of mortgage interest relief per mortgage for 1986–87 is estimated to be about £580. The mortgage interest rates assumed are those currently charged by the lender.