§ 6. Mr. Hardyasked the Chancellor of the Exchequer how much tax relief is available per annum in the case of an individual obtaining a £40,000 mortgage over a 25-year period at the current rate of interest assuming surtax is paid at the highest rate.
§ Mr. Patrick JenkinThe interest will fall from £3,200 in the first year to £278 in the last year. At current rates the income tax together with top rate surtax on these amounts is £2,414 and £210, respectively, for earned income, and £2,840 and £247, respectively, for investment income.