§ Sir Brandon Rhys Williamsasked the Chancellor of the Exchequer how many taxpayers derived benefit from the option mortgage scheme in 1979–80; and what was the resulting gain to the taxpayer in the average case.
§ Mr. Peter Rees[pursuant to his reply, 20 May 1980 c. 133]: I regret that this information is not available. Option mortgages tend to benefit those who do not pay income tax at the basic or higher rates. Income tax relief is not granted in respect of interest payable under the option mortgage scheme and a record is not maintained of the number of taxpayers who make use of the scheme.