§ Mr. George Rodgersasked the Chancellor of the Exchequer what additional annual revenue would accrue if the income tax concession on building society interest charges was restricted to mortgage debts of less than £15,000.
§ Mr. Robert SheldonIt is not possible to make a precise estimate but if the maximum amount on which tax relief is allowed against mortgage interest was reduced to £15,000, the additional annual revenue would be about £5 million.