§ 39. Mr. Bowen Wellsasked the Chancellor of the Exchequer whether he is satisfied with the level of profitability of the nationalised industries.
§ Sir Geoffrey HoweThe Government have set financial targets for the majority of industries on the basis of agreed levels of profitability. Financial targets for the remainder are under discussion. These targets imply a considerable improvement in profitability.
§ 40. Mr. Iain Millsasked the Chancellor of the Exchequer what scope there is for higher productivity in the nationalised industries.
§ Sir Geoffrey HoweThe Government believe there is significant scope for higher productivity in many of the nationalised industries. How this can
Average per mortgagor Averages for all taxpayers Range of total income in 1979–80 Average extra tax if mortgage interest relief abolished Average tax relieved if saving spent on raising personal tax allowances Average tax relieved if saving spent on reducing basic rate £ £ £ Under £2,000 100 35 2 £2,000–£10,000 215 65 65 £10,000–12,000 315 95 175 £12,000–£16,000 445 105 230 £16,000–£20,000 685 105 270 Over £20,000 1,260 125 295 The averages for all taxpayers are calculated over all tax units (counting married couples) in the income ranges, whether or not entitled to mortgage interest relief.