§ Mr. Pardoeasked the Chancellor of the Exchequer (1) what is the average annual cost to the Exchequer of tax-free interest on mortgages per mortgagor;
(2) what is the annual cost to the Exchequer of tax-free interest on mortgages on owner-occupied property; and how much of this annual cost derives from interest on mortgages of 85W £5,000 and more and £10,000 and more respectively.
§ Mr. Patrick JenkinThe total tax relief on mortgages is estimated at about £300 million for 1970-71, the latest year for which an estimate can be made. The average relief per mortgagor is nearly £60. It is not possible to estimate how much of the relief is attributable to mortgages of different amounts.