§ Mr. Douglas-Mannasked the Chancellor of the Exchequer whether the figure for the cost of tax relief on qualifying interest on loans for purchase or improvement of owner-occupied property given on page 184 of the public expenditure White Paper, Cmnd. 7841, as being £145 million in 1979–80, includes the effect of the higher rate tax payments avoided by those who, but for the relief, would have paid higher rate tax on part, or more, of their income; and, if not, what effect its inclusion would have on the figure.
§ Mr. Peter Rees[pursuant to his reply, 7 July 1980, c. 78]: Yes. The £1,450 million represents the total increase in revenue at 1979–80 income levels if no relief were given in respect of the qualifying interest.