§ Mr. Ralph Howellasked the Chancellor of the Exchequer what is his estimate of the 1979–80 cost of mortgage interest rebate; how many people are affected; and what is the average amount of tax relief per owner occupier.
§ Mr. Peter ReesThe full year cost of mortgage interest relief at 1979–80 income levels is estimated to be approximately £1,400 million. The number of mortgagors benefiting from tax relief is not known precisely, but is about 5½ million out of a total of 6.4 million mortgagors, including option mortgagors. There are about 11.6 million owner occupiers. The cost of relief per owner occupier is therefore about £120.