HC Deb 23 April 1980 vol 983 cc144-5W
Mr. Ernie Ross

asked the Chancellor of the Exchequer if he will publish a table showing the changes in (a) food prices and (b) all consumer prices in each Common Market country since May 1979, taking the May 1979 index as 100.

Mr. Biffen

Following is the information:

the average per tax unit in each of these bands; and if he will provide the same information for the rise in average mortgage interest repayments at each earnings band arising from the increase in interest rates in, separately, June 1979 and November 1979.

Mr. Peter Rees

[pursuant to his reply, 14 April 1980, c. 519]: Information is available only by reference to ranges of total income subject to tax, which includes unearned income but excludes non-taxable social security benefits. The estimated cost relates to the changes in personal allowances, higher rate thresh-holds and investment income surcharge threshold and the withdrawal of the lower rate band. The information is for a full year at 1980–81 income levels, but because it is not accurate enough to subdivide the range over £20,000 no

Range of total income 1980–81 Total budget cost Percentage of total cost Average per tax unit*
£ million Per cent. £
Up to £2,000 53 3.5 37
£2,000–£4,000 219 1.2 41
£4,000–£5,000 136 8.9 49
£5,000–£6,000 156 10.1 62
£6,000–£8,000 289 18.8 68
£8,000–£10,000 203 13.2 75
£10,000–£15,000 212 13.8 97
£15,000–£20,000 115 7.4 240
Over £20,000 156 10.1 485
* A tax unit includes married couples counted as 1 unit, The figures are averaged over all tax units who would be liable to tax at 1979–80 allowances.

The following is the available information regarding mortgage interest. The estimated amount of interest relates to all allowable mortgage interest but incorporates a rate of 15 per cent. for a full year in respect of building society

Range of total income 1980–81 Allowable mortgage interest Percentage of total allowable interest Average allowable interest per mortgagor
£ £million Per cent. £
Up to 2,000 35 0.6 620
2,000 to 4,000 194 3.1 710
4,000 to 5,000 265 4.3 810
5,000 to 6,000 490 7.9 880
6,000 to 8,000 1,296 21.0 950
8,000 to 10,000 1,236 20.0 1,010
10,000 to 15,000 1,708 27.7 1,360
15,000 to 20,000 499 8.1 1,750
Over 20,000 449 7.3 2,690

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