§ Mr. Craigenasked the Chancellor of the Exchequer, pursuant to the reply to the hon. Member for Glasgow, Maryhill on 28 March, what form the wide canvass of views from interested parties and the general public will take on the role and scope of building societies; and whether it will be based simply on the proposal put forward by the Building Societies Association.
§ Mr. Bruce-Gardyne[pursuant to his reply, 31 March 1983, c. 252]: The form and timing of consultation has not yet been decided. But the hon. Gentleman may be assured that it will not be based only on the proposals put forward by the Building Societies Association. Before the Government issue their own proposals (which it will do
338Wincome. In the table below this has been calculated using the average proportion of investment income to total income for single and married taxpayers respectively around each earnings level.
The effect of the other proposals mentioned in the hon. Member's penultimate question will depend on the individual circumstances of the taxpayer. Some examples for two of the items are as follows. The extension of the widow's bereavement allowance will benefit a widow paying tax at the basic rate by £303 in the year after her husband's death. The increase in the mortgage interest relief limit will be worth £150 a year to a basic rate payer, or £300 a year to an individual paying at 60 per cent., assuming a mortgage of at least £30,000 and an interest rate of 10 per cent.
well in advance of legislation), it will be happy to receive comments and suggestions on the Building Societies Association's proposals.