§ Mr. SheermanTo ask the Chancellor of the Exchequer what would be the value of the £30,000 mortgage tax relief if it had been increased in line with inflation from the time of its inception. [29638]
§ Sir George YoungAs a result of lower mortgage interest rates the average mortgage holder is over £130 a month better off than five years ago. The £30,000 limit on mortgage interest relief was introduced in 1983–84. If this limit had been indexed in line with the change in the retail prices index, the limit for 1995–96 would be £53,000.