HC Deb 27 January 1994 vol 236 cc355-6W
Ms Harman

To ask the Chancellor of the Exchequer what the additional cost to the average first-time buyer would have been for the latest financial year for which figures are available had mortgage interest relief been restricted in that year to(a) 20 per cent. and (b) 15 per cent.

Mr. Dorrell

[holding answer 26 January 1994]: It is not possible to provide an estimate since accurate information on the mortgage interest rates paid by first-time buyers is not available. The average new loan for first-time buyers in 1993–94 was over £30,000.

Ms Harman

To ask the Chancellor of the Exchequer what the average interest rate payable on mortgages qualifying for mortgage interest relief is expected to be in 1993–94, 1994–95 and 1995–96.

Mr. Dorrell

[holding answer 26 January 1994]: Interest rates will continue to be set to achieve the Government's objectives for low inflation and sustainable growth.

Sir John Cope

[holding answer 25 January 1994]: Customs and Excise have records for contraband seizures for the period from 1 April 1991. An analysis of these years can be provided only at a disproportionate cost.