§ Miss Richardsonasked the Chancellor of the Exchequer what is his estimate of the cost of mortgage interest relief in 1979–80, taking into account the new mortgage rate; and how much of that cost is attributable to the relief received by higher rate taxpayers.
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§ Mr. Peter ReesThe information is as follows:
§ Mr. Peter ReesAbout £1,450 million at 1979–80 income levels. A precise calculation of the amount relating to higher rate taxpayers is not available but it is estimated to be approximately 20 per cent. of the total. This is by reference to the total relief due and not to the excess over relief at the basic rate.
§ Mr. Squireasked the Chancellor of the Exchequer whether he is satisfied with the present system of granting relief for house purchase through the individual's tax coding.
§ Mr. Peter ReesYes.