§ Mr. Frank Allaunasked the Chancellor of the Exchequer what is the approximate annual tax relief granted to a house-buyer taking out a £30,000 mortgage on which regular repayments are made over 10 years, paying interest at 9½ per cent., who has sufficient income liable at the highest tax rate.
§ Mr. NottAssuming that the maximum rate of tax for 1973–74–90 per cent.—applied for the whole of the repayment period, tax relief falls from about £2,565 in the first year to £373 in the final year.