Mortgage Interest Relief

HC Deb 12 January 1987 vol 108 cc91-2W

Mr. Meacher

asked the Chancellor of the Exchequer if, for the financial year 1986–87, he will indicate the number of taxpayers expected to receive relief on mortgage interest and the anticipated average relief per mortgagor, for those with annual incomes of (a) £30,000 to £40,000, (b) £40,000 to £50,000, (c) £50,000 to £60,000, (d) £60,000 to £70,000 and (e) over £70,000.

Mr. Norman Lamont

Estimates based on projections from the 1984–85 survey of personal incomes are as follows:

Tax units1 receiving mortgage interest relief by range of total income—1986–87
Range of total income £',000	Numbers receiving mortgage relief '000	Average value of relief per mortgagor £	Total cost of relief £ million
30 to 40	215	1,060	230
40 to 50	70	1,330	90
50 to 60	25	1,500	40
60 to 70	15	1,550	20
Over 70	25	1,650	40
TOTAL	350	1,210	420
1Single persons and married couples.