Mortage Interest (Tax Relief)

HC Deb 07 May 1980 vol 984 c139W

Dr. McDonald

asked the Chancellor of the Exchequer what would be the saving if mortage tax relief were paid at the same rate as life insurance premium tax reliefs.

Mr. Peter

Rees [pursuant to his reply, of 6 May 1980]: At 1980–81 income levels, and current interest rates the

		Further increase in specific duty*	Approximate VAT-inclusive price increase
(a)	Tobacco	16½%	6½p per packet of 20
(b)	Beer	16%	1½p per pint of typical beer
	Wine	10½p per 70 cl bottle of table wine
	Spirits	66p per bottle of whisky
* The duty increases required to meet first and full year costs of the increased benefit would be the same if the duties were to be increased together about 3½ weeks before the increase in the benefit.