Mortgage Tax Relief (Hansard, 21 February 1992)

HC Deb 21 February 1992 vol 204 c311W 311W

§ Mr. Battle
To ask the Chancellor of the Exchequer what would be the cost to the Exchequer of increasing the maximum limit for mortgage tax relief to(a) £40,000, (b) £50,000 and (c) £60,000.

§ Mr. Maude
The estimated costs at 1991–92 levels of increasing the ceiling on mortgage interest tax relief are shown in the table.

Ceiling on mortgage interest tax relief Cost of increasing the ceiling on mortgage interest tax relief for 1991–92¹

£ £ billion

40,000 0.7

50,000 1.1

60,000 1.3

¹ The estimates are based on the distribution of existing mortgages and therefore exclude behavioural effects which might result from the change and could be substantial.

Ceiling on mortgage interest tax relief	Cost of increasing the ceiling on mortgage interest tax relief for 1991–92¹
£	£ billion
40,000	0.7
50,000	1.1
60,000	1.3
¹ The estimates are based on the distribution of existing mortgages and therefore exclude behavioural effects which might result from the change and could be substantial.