§ Mr. Wigley
To ask the Chancellor of the Exchequer what was the estimated total value of mortgage income tax relief for the United Kingdom, and for each standard region, for the latest available financial year.
§ Mr. Dorrell
Estimates for 1993–94 based on a projection of the 1992 family expenditure survey are given in the table. 335W
The figures are based on current interest rates as it is not yet known what reductions mortgage lenders will make following the recent reduction in the base rate.
Cost of Mortgage Interest Relief Region £ million North 190 Yorkshire/Humberside 350 North West 450 East Midlands 350 West Midlands 390 East Anglia 170 Greater London 500 South East 1,000 South West 380 England 3,780 Wales 180 Scotland 280 Northern Ireland 60 United Kingdom 4,300