HC Deb 14 June 1988 vol 135 cc144-5W
Mr. Soley

To ask the Chancellor of the Exchequer what was the total cost of mortgage interest relief for 1987–88, divided by ranges of total income and showing(a)the number of each band receiving mortgage relief,(b)the average value of relief per mortgagor, (c)the total cost of relief, (d)the percentage of total cost and (e)the total number of taxpayers in each case.

Tax units receiving mortgage interest relief by range of total income
1987–88
Range of total income Number of tax units1 with mortgage interest relief2 Average value of relief per mortgagor Total cost of relief Percentage of total cost Number of tax units1 paying tax
(thousands) (£) (£ million) (per cent.) (thousands)
Up to £5,000 720 370 270 5.6 3,200
£5,000 to £10,000 1,620 460 740 15.3 7,400
£10,000 to £15,000 2,500 550 1,370 28.2 4,800
£15,000 to £20,000 1,770 580 1,030 21.2 2,600
£20,000 to £25,000 860 580 500 10.3 1,300
£25,000 to £30,000 410 780 320 6.6 550
Over £30,000 520 1,190 620 12.8 750
TOTAL 8,400 580 4,850 100.0 20,600
1 Single persons and married couples.
2 Including about ½ million non-taxpaying tax units.

Forestry

Mr. Nigel Griffiths

To ask the Chancellor of the Exchequer if he will estimate(a) the amount of tax relief which will be claimed against forestry operations and (b) the area of land involved in these claims, under the interim arrangements for tax relief on forestry operations announced in his Budget statement in the current year.

Mr. Ron Davies

To ask the Chancellor of the Exchequer if he will provide an estimate of the annual cost to the Exchequer of the revenue forgone as a result of the transitional provisions for tax relief to occupiers of commercial woodlands and those who became occupiers as a result of commitments entered into applications for grants received by the Forestry Commission before 15 March.

Mr. Norman Lamont

[holding answer 10 June 1988]Income and corporation tax relief in respect of commercial woodlands was estimated at some £10 million a year at the rates of personal income tax applying before the Budget. Under the proposals announced in my right hon. Friend the Chancellor of the Exchequer's Budget the relief is being phased out, and the cost will therefore reduce year by year at a rate which will depend on the extent to which the new planting grants are taken up. It is not possible to estimate the area of land which may be involved.