§ Mr. Trotterasked the Chancellor of the Exchequer to what figure the present limit of mortgage for which interest is allowed against income tax would have to be raised if the limit were to be increased in line with the fall in the value of £ sterling since the current limit was introduced, and what is his estimate of the cost to the Exchequer of raising the limit to this figure.
§ Mr. Peter Rees[pursuant to his reply, 5 March 1981, c. 173]: If the limit of mortgage interest relief were to be increased in line with the retail price index since the current limit was introduced, the level in 1980–81 would be £59,700, based on the increase in prices between 1974–75 and 1980–81. I refer the hon. Member to my reply on 1 December 1980—[Vol. 995, c. 55]—for an estimate of the cost.