HC Deb 21 July 1970 vol 804 cc72-3W
Mr. George Cunningham

asked the Chancellor of the Exchequer what was the amount of tax revenue foregone in the fiscal years 1967–68 and 1968–69 by reason of the tax allowance in respect of interest payments on loans for purposes other than house purchase or house improvement.

Mr. Patrick Jenkin

About £25 million for each year leaving aside interest paid for business purposes.

Mr. George Cunningham

asked the Chancellor of the Exchequer what was the amount of tax revenue foregone by reason of the tax allowance in respect of interest payments on loans for house purchase over the last five fiscal years, the number of persons who benefited from this relief, and the average relief per person.

Mr. Patrick Jenkin

The estimated figures are:

Year Tax relief Numbers benefiting Average tax relief
£m. m. £
1965–66 135 4.2 32
1966–67 155 4.3 36
1967–68 180 4.3 42
1968–69 195 4.4 44
1969–70 215 4.5 47½

Mr. George Cunningham

asked the Chancellor of the Exchequer what is his estimate of the number of persons subject to tax relief in the present year in respect of interest paid on loans for house purchase in each of the following pretax income brackets, £0-£999, £1,000 to £1,999, £2,000 to £2,999, £3,000 to £3,999, £4,000 to £4,999 and £5,000 to £10,000.

Mr. Patrick Jenkin

This information is not available.