Mortgage Endowment Policies

HC Deb 29 February 1996 vol 272 cc651-2W

Mr. Frank Field

To ask the Chancellor of the Exchequer what was the loss in revenue for each year since 1979 accruing from the granting of mortgage endowment policies. [17474]

Mr. Jack

[holding answer 27 February 1996]: The estimated cost of life assurance premium relief on mortgage endowment policy premiums was about £90 million in 1993–94 and £80 million in 1994–95. Information for earlier years could be provided only at disproportionate cost.

These approximate estimates are based on information from the family expenditure survey.