§ Mr. Trotterasked the Chancellor of the Exchequer whether interest paid by individual taxpayers on overdrafts taken out before Budget day will continue to be allowed in computing their tax liabilities if the money borrowed was used to improve or alter a house occupied in whole or part by the taxpayer.
§ Dr. GilbertInterest paid on an overdraft in existence on Budget Day will continue to qualify for tax relief until 5th April 1975. Thereafter, overdraft interest will be eligible for relief only if it is incurred as a business expense.