§ Lord GISBOROUGHasked Her Majesty's Government:
Whether they will introduce a tax deductible compound interest savings scheme to allow tenants of rented accommodation (particularly in the Services) to set aside an annual amount about equal to the different between their rent, and what they would be paying in mortgage repayments if buying a house, in order to fund the purchase of a house at a later stage in their lives, or to maintain their funds at an inflating house value while occupying temporary rented property.
§ Lord COCKFIELDWhile I sympathise with the noble Lord's objective, I do not think a scheme of the kind he has in mind would be practicable.