§ Mr. Kaufmanasked the Chancellor of the Exchequer when the proposal to reduce the standard rate of income tax is implemented in April, 1971, what will be the annual loss in tax relief on mortgage payments (a) in the first year of repayment and (b) in the tenth year of repayment to a taxpayer earning each of the following sums by earned income, on the assumption that the taxpayer has two children, namely, £1,250 per annum, £1,500 per annum, £2,000 per annum, £2,500 per annum, and £3,000 per annum.
§ Mr. Patrick JenkinThe effect will depend on the size of the mortgage and the terms of the loan, including the rate of interest payable.