§ Mrs. Chalkerasked the Chancellor of the Exchequer what would be the value of the administrative savings if mortgage interest relief and life assurance relief were paid only at the standard tax rate for 1975–76.
§ Mr. Robert SheldonThere would be no administrative savings, but rather a heavy administrative cost, if the relie allowable for 1975–76 in respect of mortgage interest paid were restricted retrospectively to the basic rate of tax. The life assurance relief is already restricted to one-half the basic rate of tax.